Correlation Between Pintec Technology and 83088MAL6
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By analyzing existing cross correlation between Pintec Technology Holdings and SWKS 3 01 JUN 31, you can compare the effects of market volatilities on Pintec Technology and 83088MAL6 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 83088MAL6. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pintec Technology and 83088MAL6.
Diversification Opportunities for Pintec Technology and 83088MAL6
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Pintec and 83088MAL6 is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Pintec Technology Holdings and SWKS 3 01 JUN 31 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SWKS 3 01 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 83088MAL6. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SWKS 3 01 has no effect on the direction of Pintec Technology i.e., Pintec Technology and 83088MAL6 go up and down completely randomly.
Pair Corralation between Pintec Technology and 83088MAL6
Allowing for the 90-day total investment horizon Pintec Technology Holdings is expected to generate 4.28 times more return on investment than 83088MAL6. However, Pintec Technology is 4.28 times more volatile than SWKS 3 01 JUN 31. It trades about 0.05 of its potential returns per unit of risk. SWKS 3 01 JUN 31 is currently generating about -0.01 per unit of risk. If you would invest 53.00 in Pintec Technology Holdings on September 3, 2024 and sell it today you would earn a total of 43.00 from holding Pintec Technology Holdings or generate 81.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 94.14% |
| Values | Daily Returns |
Pintec Technology Holdings vs. SWKS 3 01 JUN 31
Performance |
| Timeline |
| Pintec Technology |
| SWKS 3 01 |
Pintec Technology and 83088MAL6 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pintec Technology and 83088MAL6
The main advantage of trading using opposite Pintec Technology and 83088MAL6 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pintec Technology position performs unexpectedly, 83088MAL6 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 83088MAL6 will offset losses from the drop in 83088MAL6's long position.| Pintec Technology vs. Senmiao Technology | Pintec Technology vs. X Financial Class | Pintec Technology vs. Yirendai | Pintec Technology vs. Qudian Inc |
| 83088MAL6 vs. Encore Capital Group | 83088MAL6 vs. Pintec Technology Holdings | 83088MAL6 vs. Chiba Bank Ltd | 83088MAL6 vs. KeyCorp |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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