Correlation Between Pintec Technology and 41283LBA2
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By analyzing existing cross correlation between Pintec Technology Holdings and HOG 305 14 FEB 27, you can compare the effects of market volatilities on Pintec Technology and 41283LBA2 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 Pintec Technology with a short position of 41283LBA2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pintec Technology and 41283LBA2.
Diversification Opportunities for Pintec Technology and 41283LBA2
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Pintec and 41283LBA2 is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Pintec Technology Holdings and HOG 305 14 FEB 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HOG 305 14 and Pintec Technology 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 Pintec Technology Holdings are associated (or correlated) with 41283LBA2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HOG 305 14 has no effect on the direction of Pintec Technology i.e., Pintec Technology and 41283LBA2 go up and down completely randomly.
Pair Corralation between Pintec Technology and 41283LBA2
Allowing for the 90-day total investment horizon Pintec Technology Holdings is expected to under-perform the 41283LBA2. In addition to that, Pintec Technology is 6.56 times more volatile than HOG 305 14 FEB 27. It trades about -0.01 of its total potential returns per unit of risk. HOG 305 14 FEB 27 is currently generating about 0.02 per unit of volatility. If you would invest 9,247 in HOG 305 14 FEB 27 on September 12, 2024 and sell it today you would earn a total of 82.00 from holding HOG 305 14 FEB 27 or generate 0.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 50.81% |
| Values | Daily Returns |
Pintec Technology Holdings vs. HOG 305 14 FEB 27
Performance |
| Timeline |
| Pintec Technology |
| HOG 305 14 |
Pintec Technology and 41283LBA2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pintec Technology and 41283LBA2
The main advantage of trading using opposite Pintec Technology and 41283LBA2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pintec Technology position performs unexpectedly, 41283LBA2 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 41283LBA2 will offset losses from the drop in 41283LBA2's long position.| Pintec Technology vs. American Express | Pintec Technology vs. Capital One Financial | Pintec Technology vs. Upstart Holdings | Pintec Technology vs. Ally Financial |
| 41283LBA2 vs. RCI Hospitality Holdings | 41283LBA2 vs. Pintec Technology Holdings | 41283LBA2 vs. Bt Brands | 41283LBA2 vs. Biglari Holdings |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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