Correlation Between Ihuman and EQUINIX
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By analyzing existing cross correlation between Ihuman Inc and EQUINIX INC, you can compare the effects of market volatilities on Ihuman and EQUINIX 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 Ihuman with a short position of EQUINIX. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ihuman and EQUINIX.
Diversification Opportunities for Ihuman and EQUINIX
Significant diversification
The 3 months correlation between Ihuman and EQUINIX is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Ihuman Inc and EQUINIX INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EQUINIX INC and Ihuman 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 Ihuman Inc are associated (or correlated) with EQUINIX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EQUINIX INC has no effect on the direction of Ihuman i.e., Ihuman and EQUINIX go up and down completely randomly.
Pair Corralation between Ihuman and EQUINIX
Allowing for the 90-day total investment horizon Ihuman Inc is expected to generate 8.41 times more return on investment than EQUINIX. However, Ihuman is 8.41 times more volatile than EQUINIX INC. It trades about 0.02 of its potential returns per unit of risk. EQUINIX INC is currently generating about 0.02 per unit of risk. If you would invest 185.00 in Ihuman Inc on September 2, 2024 and sell it today you would lose (20.00) from holding Ihuman Inc or give up 10.81% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 97.98% |
| Values | Daily Returns |
Ihuman Inc vs. EQUINIX INC
Performance |
| Timeline |
| Ihuman Inc |
| EQUINIX INC |
Ihuman and EQUINIX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ihuman and EQUINIX
The main advantage of trading using opposite Ihuman and EQUINIX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ihuman position performs unexpectedly, EQUINIX 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 EQUINIX will offset losses from the drop in EQUINIX's long position.| Ihuman vs. Wah Fu Education | Ihuman vs. Golden Sun Education | Ihuman vs. Elite Education Group | Ihuman vs. American Public Education |
| EQUINIX vs. AEP TEX INC | EQUINIX vs. US BANK NATIONAL | EQUINIX vs. Bank of America | EQUINIX vs. GE Aerospace |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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