Correlation Between Lumia and Nsfocus Information
Specify exactly 2 symbols:
By analyzing existing cross correlation between Lumia and Nsfocus Information Technology, you can compare the effects of market volatilities on Lumia and Nsfocus Information 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 Lumia with a short position of Nsfocus Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lumia and Nsfocus Information.
Diversification Opportunities for Lumia and Nsfocus Information
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Lumia and Nsfocus is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Lumia and Nsfocus Information Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nsfocus Information and Lumia 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 Lumia are associated (or correlated) with Nsfocus Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nsfocus Information has no effect on the direction of Lumia i.e., Lumia and Nsfocus Information go up and down completely randomly.
Pair Corralation between Lumia and Nsfocus Information
Assuming the 90 days trading horizon Lumia is expected to generate 19.42 times more return on investment than Nsfocus Information. However, Lumia is 19.42 times more volatile than Nsfocus Information Technology. It trades about 0.08 of its potential returns per unit of risk. Nsfocus Information Technology is currently generating about 0.05 per unit of risk. If you would invest 0.00 in Lumia on October 13, 2024 and sell it today you would earn a total of 118.00 from holding Lumia or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.3% |
| Values | Daily Returns |
Lumia vs. Nsfocus Information Technology
Performance |
| Timeline |
| Lumia |
| Nsfocus Information |
Lumia and Nsfocus Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lumia and Nsfocus Information
The main advantage of trading using opposite Lumia and Nsfocus Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lumia position performs unexpectedly, Nsfocus Information 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 Nsfocus Information will offset losses from the drop in Nsfocus Information's long position.The idea behind Lumia and Nsfocus Information Technology pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Nsfocus Information vs. Dareway Software Co | Nsfocus Information vs. Luyin Investment Group | Nsfocus Information vs. Cansino Biologics | Nsfocus Information vs. Hubei Geoway Investment |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios |