Correlation Between Walker Dunlop and Hengli Industrial
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By analyzing existing cross correlation between Walker Dunlop and Hengli Industrial Development, you can compare the effects of market volatilities on Walker Dunlop and Hengli Industrial 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 Hengli Industrial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Hengli Industrial.
Diversification Opportunities for Walker Dunlop and Hengli Industrial
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Walker and Hengli is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Hengli Industrial Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hengli Industrial 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 Hengli Industrial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hengli Industrial has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Hengli Industrial go up and down completely randomly.
Pair Corralation between Walker Dunlop and Hengli Industrial
Allowing for the 90-day total investment horizon Walker Dunlop is expected to under-perform the Hengli Industrial. But the stock apears to be less risky and, when comparing its historical volatility, Walker Dunlop is 2.64 times less risky than Hengli Industrial. The stock trades about 0.0 of its potential returns per unit of risk. The Hengli Industrial Development is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest 187.00 in Hengli Industrial Development on August 29, 2024 and sell it today you would earn a total of 53.00 from holding Hengli Industrial Development or generate 28.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Walker Dunlop vs. Hengli Industrial Development
Performance |
| Timeline |
| Walker Dunlop |
| Hengli Industrial |
Walker Dunlop and Hengli Industrial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Hengli Industrial
The main advantage of trading using opposite Walker Dunlop and Hengli Industrial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Hengli Industrial 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 Hengli Industrial will offset losses from the drop in Hengli Industrial'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 |
| Hengli Industrial vs. Huaxia Fund Management | Hengli Industrial vs. Cicc Fund Management | Hengli Industrial vs. AVIC Fund Management | Hengli Industrial vs. Hangzhou Pinming Software |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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