Correlation Between Oriental Food and ONETECH SOLUTIONS
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By analyzing existing cross correlation between Oriental Food Industries and ONETECH SOLUTIONS HOLDINGS, you can compare the effects of market volatilities on Oriental Food and ONETECH SOLUTIONS 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 Oriental Food with a short position of ONETECH SOLUTIONS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oriental Food and ONETECH SOLUTIONS.
Diversification Opportunities for Oriental Food and ONETECH SOLUTIONS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oriental and ONETECH is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oriental Food Industries and ONETECH SOLUTIONS HOLDINGS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ONETECH SOLUTIONS and Oriental Food 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 Oriental Food Industries are associated (or correlated) with ONETECH SOLUTIONS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ONETECH SOLUTIONS has no effect on the direction of Oriental Food i.e., Oriental Food and ONETECH SOLUTIONS go up and down completely randomly.
Pair Corralation between Oriental Food and ONETECH SOLUTIONS
If you would invest 102.00 in Oriental Food Industries on August 31, 2024 and sell it today you would earn a total of 66.00 from holding Oriental Food Industries or generate 64.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.9% |
| Values | Daily Returns |
Oriental Food Industries vs. ONETECH SOLUTIONS HOLDINGS
Performance |
| Timeline |
| Oriental Food Industries |
| ONETECH SOLUTIONS |
Oriental Food and ONETECH SOLUTIONS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oriental Food and ONETECH SOLUTIONS
The main advantage of trading using opposite Oriental Food and ONETECH SOLUTIONS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oriental Food position performs unexpectedly, ONETECH SOLUTIONS 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 ONETECH SOLUTIONS will offset losses from the drop in ONETECH SOLUTIONS's long position.| Oriental Food vs. Nestle Bhd | Oriental Food vs. PPB Group Bhd | Oriental Food vs. IOI Bhd | Oriental Food vs. FGV Holdings Bhd |
| ONETECH SOLUTIONS vs. Homeritz Bhd | ONETECH SOLUTIONS vs. Cloudpoint Technology Berhad | ONETECH SOLUTIONS vs. Silver Ridge Holdings | ONETECH SOLUTIONS vs. Media Prima Bhd |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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