Correlation Between ROPEOK Technology and INKON Life
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By analyzing existing cross correlation between ROPEOK Technology Group and INKON Life Technology, you can compare the effects of market volatilities on ROPEOK Technology and INKON Life 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 INKON Life. Check out your portfolio center. Please also check ongoing floating volatility patterns of ROPEOK Technology and INKON Life.
Diversification Opportunities for ROPEOK Technology and INKON Life
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between ROPEOK and INKON is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding ROPEOK Technology Group and INKON Life Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INKON Life Technology 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 INKON Life. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INKON Life Technology has no effect on the direction of ROPEOK Technology i.e., ROPEOK Technology and INKON Life go up and down completely randomly.
Pair Corralation between ROPEOK Technology and INKON Life
Assuming the 90 days trading horizon ROPEOK Technology Group is expected to generate 1.22 times more return on investment than INKON Life. However, ROPEOK Technology is 1.22 times more volatile than INKON Life Technology. It trades about 0.23 of its potential returns per unit of risk. INKON Life Technology is currently generating about 0.04 per unit of risk. If you would invest 846.00 in ROPEOK Technology Group on September 5, 2024 and sell it today you would earn a total of 124.00 from holding ROPEOK Technology Group or generate 14.66% 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. INKON Life Technology
Performance |
| Timeline |
| ROPEOK Technology |
| INKON Life Technology |
ROPEOK Technology and INKON Life Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ROPEOK Technology and INKON Life
The main advantage of trading using opposite ROPEOK Technology and INKON Life positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ROPEOK Technology position performs unexpectedly, INKON Life 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 INKON Life will offset losses from the drop in INKON Life's long position.| ROPEOK Technology vs. New China Life | ROPEOK Technology vs. Ming Yang Smart | ROPEOK Technology vs. 159681 | ROPEOK Technology vs. 159005 |
| INKON Life vs. Industrial and Commercial | INKON Life vs. China Construction Bank | INKON Life vs. Bank of China | INKON Life vs. Agricultural Bank of |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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