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
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between Pintec and 41283LBA2 is -0.03. 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 generate 5.03 times more return on investment than 41283LBA2. However, Pintec Technology is 5.03 times more volatile than HOG 305 14 FEB 27. It trades about 0.0 of its potential returns per unit of risk. HOG 305 14 FEB 27 is currently generating about -0.18 per unit of risk. If you would invest 103.00 in Pintec Technology Holdings on November 3, 2024 and sell it today you would lose (6.00) from holding Pintec Technology Holdings or give up 5.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 43.2% |
| 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. Senmiao Technology | Pintec Technology vs. X Financial Class | Pintec Technology vs. Yirendai | Pintec Technology vs. Qudian Inc |
| 41283LBA2 vs. Mesa Air Group | 41283LBA2 vs. Black Mammoth Metals | 41283LBA2 vs. Aluminum of | 41283LBA2 vs. Life Insurance |
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 Directory module to find actively traded commodities issued by global exchanges.
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