Correlation Between Walker Dunlop and Huatian Hotel
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By analyzing existing cross correlation between Walker Dunlop and Huatian Hotel Group, you can compare the effects of market volatilities on Walker Dunlop and Huatian 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 Walker Dunlop with a short position of Huatian Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Huatian Hotel.
Diversification Opportunities for Walker Dunlop and Huatian Hotel
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Walker and Huatian is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Huatian Hotel Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huatian Hotel Group and Walker Dunlop 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 Walker Dunlop are associated (or correlated) with Huatian Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huatian Hotel Group has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Huatian Hotel go up and down completely randomly.
Pair Corralation between Walker Dunlop and Huatian Hotel
Allowing for the 90-day total investment horizon Walker Dunlop is expected to under-perform the Huatian Hotel. But the stock apears to be less risky and, when comparing its historical volatility, Walker Dunlop is 1.97 times less risky than Huatian Hotel. The stock trades about -0.01 of its potential returns per unit of risk. The Huatian Hotel Group is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 338.00 in Huatian Hotel Group on August 29, 2024 and sell it today you would earn a total of 4.00 from holding Huatian Hotel Group or generate 1.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Walker Dunlop vs. Huatian Hotel Group
Performance |
| Timeline |
| Walker Dunlop |
| Huatian Hotel Group |
Walker Dunlop and Huatian Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Huatian Hotel
The main advantage of trading using opposite Walker Dunlop and Huatian Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Huatian 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 Huatian Hotel will offset losses from the drop in Huatian Hotel's long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| Huatian Hotel vs. Agricultural Bank of | Huatian Hotel vs. Industrial and Commercial | Huatian Hotel vs. Bank of China | Huatian Hotel vs. China Construction Bank |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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