Correlation Between Walker Dunlop and Beijing Wandong
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By analyzing existing cross correlation between Walker Dunlop and Beijing Wandong Medical, you can compare the effects of market volatilities on Walker Dunlop and Beijing Wandong 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 Beijing Wandong. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Beijing Wandong.
Diversification Opportunities for Walker Dunlop and Beijing Wandong
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Walker and Beijing is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Beijing Wandong Medical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Wandong Medical 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 Beijing Wandong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Wandong Medical has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Beijing Wandong go up and down completely randomly.
Pair Corralation between Walker Dunlop and Beijing Wandong
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 1.02 times more return on investment than Beijing Wandong. However, Walker Dunlop is 1.02 times more volatile than Beijing Wandong Medical. It trades about 0.04 of its potential returns per unit of risk. Beijing Wandong Medical is currently generating about -0.01 per unit of risk. If you would invest 8,063 in Walker Dunlop on August 26, 2024 and sell it today you would earn a total of 2,786 from holding Walker Dunlop or generate 34.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 96.18% |
| Values | Daily Returns |
Walker Dunlop vs. Beijing Wandong Medical
Performance |
| Timeline |
| Walker Dunlop |
| Beijing Wandong Medical |
Walker Dunlop and Beijing Wandong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Beijing Wandong
The main advantage of trading using opposite Walker Dunlop and Beijing Wandong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Beijing Wandong 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 Beijing Wandong will offset losses from the drop in Beijing Wandong'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 |
| Beijing Wandong vs. Bank of China | Beijing Wandong vs. Kweichow Moutai Co | Beijing Wandong vs. PetroChina Co Ltd | Beijing Wandong vs. Bank of Communications |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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