Correlation Between ROPEOK Technology and Yunnan Xiyi
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By analyzing existing cross correlation between ROPEOK Technology Group and Yunnan Xiyi Industrial, you can compare the effects of market volatilities on ROPEOK Technology and Yunnan Xiyi 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 Yunnan Xiyi. Check out your portfolio center. Please also check ongoing floating volatility patterns of ROPEOK Technology and Yunnan Xiyi.
Diversification Opportunities for ROPEOK Technology and Yunnan Xiyi
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between ROPEOK and Yunnan is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding ROPEOK Technology Group and Yunnan Xiyi Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yunnan Xiyi Industrial 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 Yunnan Xiyi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yunnan Xiyi Industrial has no effect on the direction of ROPEOK Technology i.e., ROPEOK Technology and Yunnan Xiyi go up and down completely randomly.
Pair Corralation between ROPEOK Technology and Yunnan Xiyi
Assuming the 90 days trading horizon ROPEOK Technology Group is expected to generate 0.65 times more return on investment than Yunnan Xiyi. However, ROPEOK Technology Group is 1.55 times less risky than Yunnan Xiyi. It trades about 0.34 of its potential returns per unit of risk. Yunnan Xiyi Industrial is currently generating about -0.15 per unit of risk. If you would invest 876.00 in ROPEOK Technology Group on November 28, 2024 and sell it today you would earn a total of 137.00 from holding ROPEOK Technology Group or generate 15.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ROPEOK Technology Group vs. Yunnan Xiyi Industrial
Performance |
| Timeline |
| ROPEOK Technology |
| Yunnan Xiyi Industrial |
ROPEOK Technology and Yunnan Xiyi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ROPEOK Technology and Yunnan Xiyi
The main advantage of trading using opposite ROPEOK Technology and Yunnan Xiyi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ROPEOK Technology position performs unexpectedly, Yunnan Xiyi 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 Yunnan Xiyi will offset losses from the drop in Yunnan Xiyi's long position.| ROPEOK Technology vs. Industrial and Commercial | ROPEOK Technology vs. Agricultural Bank of | ROPEOK Technology vs. China Construction Bank | ROPEOK Technology vs. Bank of China |
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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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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