Correlation Between ROPEOK Technology and Allwin Telecommunicatio
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By analyzing existing cross correlation between ROPEOK Technology Group and Allwin Telecommunication Co, you can compare the effects of market volatilities on ROPEOK Technology and Allwin Telecommunicatio and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in ROPEOK Technology with a short position of Allwin Telecommunicatio. Check out your portfolio center. Please also check ongoing floating volatility patterns of ROPEOK Technology and Allwin Telecommunicatio.
Diversification Opportunities for ROPEOK Technology and Allwin Telecommunicatio
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between ROPEOK and Allwin is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding ROPEOK Technology Group and Allwin Telecommunication Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Allwin Telecommunicatio and ROPEOK Technology is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on ROPEOK Technology Group are associated (or correlated) with Allwin Telecommunicatio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Allwin Telecommunicatio has no effect on the direction of ROPEOK Technology i.e., ROPEOK Technology and Allwin Telecommunicatio go up and down completely randomly.
Pair Corralation between ROPEOK Technology and Allwin Telecommunicatio
Assuming the 90 days trading horizon ROPEOK Technology Group is expected to generate 0.88 times more return on investment than Allwin Telecommunicatio. However, ROPEOK Technology Group is 1.13 times less risky than Allwin Telecommunicatio. It trades about 0.17 of its potential returns per unit of risk. Allwin Telecommunication Co is currently generating about -0.02 per unit of risk. If you would invest 855.00 in ROPEOK Technology Group on September 1, 2024 and sell it today you would earn a total of 96.00 from holding ROPEOK Technology Group or generate 11.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
ROPEOK Technology Group vs. Allwin Telecommunication Co
Performance |
| Timeline |
| ROPEOK Technology |
| Allwin Telecommunicatio |
ROPEOK Technology and Allwin Telecommunicatio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ROPEOK Technology and Allwin Telecommunicatio
The main advantage of trading using opposite ROPEOK Technology and Allwin Telecommunicatio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ROPEOK Technology position performs unexpectedly, Allwin Telecommunicatio can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Allwin Telecommunicatio will offset losses from the drop in Allwin Telecommunicatio's long position.| ROPEOK Technology vs. Longmaster Information Tech | ROPEOK Technology vs. Emdoor Information Co | ROPEOK Technology vs. AVCON Information Tech | ROPEOK Technology vs. Nancal Energy Saving Tech |
| Allwin Telecommunicatio vs. Industrial and Commercial | Allwin Telecommunicatio vs. Kweichow Moutai Co | Allwin Telecommunicatio vs. Agricultural Bank of | Allwin Telecommunicatio vs. China Mobile Limited |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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