Correlation Between AOI Electronics and MHP Hotel
Specify exactly 2 symbols:
By analyzing existing cross correlation between AOI Electronics Co and MHP Hotel AG, you can compare the effects of market volatilities on AOI Electronics and MHP Hotel 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 AOI Electronics with a short position of MHP Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of AOI Electronics and MHP Hotel.
Diversification Opportunities for AOI Electronics and MHP Hotel
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AOI and MHP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AOI Electronics Co and MHP Hotel AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MHP Hotel AG and AOI Electronics 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 AOI Electronics Co are associated (or correlated) with MHP Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MHP Hotel AG has no effect on the direction of AOI Electronics i.e., AOI Electronics and MHP Hotel go up and down completely randomly.
Pair Corralation between AOI Electronics and MHP Hotel
If you would invest 117.00 in MHP Hotel AG on October 16, 2024 and sell it today you would earn a total of 11.00 from holding MHP Hotel AG or generate 9.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 94.12% |
| Values | Daily Returns |
AOI Electronics Co vs. MHP Hotel AG
Performance |
| Timeline |
| AOI Electronics |
| MHP Hotel AG |
AOI Electronics and MHP Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AOI Electronics and MHP Hotel
The main advantage of trading using opposite AOI Electronics and MHP Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AOI Electronics position performs unexpectedly, MHP Hotel 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 MHP Hotel will offset losses from the drop in MHP Hotel's long position.| AOI Electronics vs. Fast Retailing Co | AOI Electronics vs. THRACE PLASTICS | AOI Electronics vs. NEWELL RUBBERMAID | AOI Electronics vs. SIDETRADE EO 1 |
| MHP Hotel vs. Yuexiu Transport Infrastructure | MHP Hotel vs. Perseus Mining Limited | MHP Hotel vs. Gold Road Resources | MHP Hotel vs. Harmony Gold Mining |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Other Complementary Tools
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |