Correlation Between Walker Dunlop and Xinke Material
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By analyzing existing cross correlation between Walker Dunlop and Xinke Material, you can compare the effects of market volatilities on Walker Dunlop and Xinke Material 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 Xinke Material. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Xinke Material.
Diversification Opportunities for Walker Dunlop and Xinke Material
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Walker and Xinke is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Xinke Material in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xinke Material 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 Xinke Material. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xinke Material has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Xinke Material go up and down completely randomly.
Pair Corralation between Walker Dunlop and Xinke Material
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.92 times more return on investment than Xinke Material. However, Walker Dunlop is 1.09 times less risky than Xinke Material. It trades about 0.04 of its potential returns per unit of risk. Xinke Material is currently generating about 0.0 per unit of risk. If you would invest 7,861 in Walker Dunlop on August 29, 2024 and sell it today you would earn a total of 3,195 from holding Walker Dunlop or generate 40.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 96.16% |
| Values | Daily Returns |
Walker Dunlop vs. Xinke Material
Performance |
| Timeline |
| Walker Dunlop |
| Xinke Material |
Walker Dunlop and Xinke Material Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Xinke Material
The main advantage of trading using opposite Walker Dunlop and Xinke Material positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Xinke Material 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 Xinke Material will offset losses from the drop in Xinke Material'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 |
| Xinke Material vs. Wanhua Chemical Group | Xinke Material vs. Shandong Gold Mining | Xinke Material vs. Rongsheng Petrochemical Co | Xinke Material vs. Inner Mongolia BaoTou |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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