Correlation Between Walker Dunlop and Wuhan Xianglong
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By analyzing existing cross correlation between Walker Dunlop and Wuhan Xianglong Power, you can compare the effects of market volatilities on Walker Dunlop and Wuhan Xianglong 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 Wuhan Xianglong. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Wuhan Xianglong.
Diversification Opportunities for Walker Dunlop and Wuhan Xianglong
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Walker and Wuhan is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Wuhan Xianglong Power in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wuhan Xianglong Power 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 Wuhan Xianglong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wuhan Xianglong Power has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Wuhan Xianglong go up and down completely randomly.
Pair Corralation between Walker Dunlop and Wuhan Xianglong
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.54 times more return on investment than Wuhan Xianglong. However, Walker Dunlop is 1.86 times less risky than Wuhan Xianglong. It trades about 0.09 of its potential returns per unit of risk. Wuhan Xianglong Power is currently generating about 0.04 per unit of risk. If you would invest 7,194 in Walker Dunlop on September 1, 2024 and sell it today you would earn a total of 3,824 from holding Walker Dunlop or generate 53.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 96.65% |
| Values | Daily Returns |
Walker Dunlop vs. Wuhan Xianglong Power
Performance |
| Timeline |
| Walker Dunlop |
| Wuhan Xianglong Power |
Walker Dunlop and Wuhan Xianglong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Wuhan Xianglong
The main advantage of trading using opposite Walker Dunlop and Wuhan Xianglong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Wuhan Xianglong 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 Wuhan Xianglong will offset losses from the drop in Wuhan Xianglong'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 |
| Wuhan Xianglong vs. Markor International Home | Wuhan Xianglong vs. Zhuhai Comleader Information | Wuhan Xianglong vs. Oppein Home Group | Wuhan Xianglong vs. Hangzhou Gisway Information |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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