Correlation Between EPSILON HEALTHCARE and ANTA SPORTS
Can any of the company-specific risk be diversified away by investing in both EPSILON HEALTHCARE and ANTA SPORTS at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining EPSILON HEALTHCARE and ANTA SPORTS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between EPSILON HEALTHCARE LTD and ANTA SPORTS PRODUCT, you can compare the effects of market volatilities on EPSILON HEALTHCARE and ANTA SPORTS 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 EPSILON HEALTHCARE with a short position of ANTA SPORTS. Check out your portfolio center. Please also check ongoing floating volatility patterns of EPSILON HEALTHCARE and ANTA SPORTS.
Diversification Opportunities for EPSILON HEALTHCARE and ANTA SPORTS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between EPSILON and ANTA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding EPSILON HEALTHCARE LTD and ANTA SPORTS PRODUCT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ANTA SPORTS PRODUCT and EPSILON HEALTHCARE 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 EPSILON HEALTHCARE LTD are associated (or correlated) with ANTA SPORTS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ANTA SPORTS PRODUCT has no effect on the direction of EPSILON HEALTHCARE i.e., EPSILON HEALTHCARE and ANTA SPORTS go up and down completely randomly.
Pair Corralation between EPSILON HEALTHCARE and ANTA SPORTS
If you would invest 743.00 in ANTA SPORTS PRODUCT on August 31, 2024 and sell it today you would earn a total of 167.00 from holding ANTA SPORTS PRODUCT or generate 22.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
EPSILON HEALTHCARE LTD vs. ANTA SPORTS PRODUCT
Performance |
| Timeline |
| EPSILON HEALTHCARE LTD |
| ANTA SPORTS PRODUCT |
EPSILON HEALTHCARE and ANTA SPORTS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EPSILON HEALTHCARE and ANTA SPORTS
The main advantage of trading using opposite EPSILON HEALTHCARE and ANTA SPORTS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EPSILON HEALTHCARE position performs unexpectedly, ANTA SPORTS 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 ANTA SPORTS will offset losses from the drop in ANTA SPORTS's long position.| EPSILON HEALTHCARE vs. Takeda Pharmaceutical | EPSILON HEALTHCARE vs. Superior Plus Corp | EPSILON HEALTHCARE vs. Origin Agritech | EPSILON HEALTHCARE vs. Identiv |
| ANTA SPORTS vs. SIVERS SEMICONDUCTORS AB | ANTA SPORTS vs. Darden Restaurants | ANTA SPORTS vs. Reliance Steel Aluminum | ANTA SPORTS vs. Q2M Managementberatung AG |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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