Correlation Between Walker Dunlop and Xian LONGi
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By analyzing existing cross correlation between Walker Dunlop and Xian LONGi Silicon, you can compare the effects of market volatilities on Walker Dunlop and Xian LONGi 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 Xian LONGi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Xian LONGi.
Diversification Opportunities for Walker Dunlop and Xian LONGi
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Walker and Xian is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Xian LONGi Silicon in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xian LONGi Silicon 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 Xian LONGi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xian LONGi Silicon has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Xian LONGi go up and down completely randomly.
Pair Corralation between Walker Dunlop and Xian LONGi
Allowing for the 90-day total investment horizon Walker Dunlop is expected to under-perform the Xian LONGi. But the stock apears to be less risky and, when comparing its historical volatility, Walker Dunlop is 1.19 times less risky than Xian LONGi. The stock trades about -0.28 of its potential returns per unit of risk. The Xian LONGi Silicon is currently generating about 0.42 of returns per unit of risk over similar time horizon. If you would invest 1,490 in Xian LONGi Silicon on November 28, 2024 and sell it today you would earn a total of 253.00 from holding Xian LONGi Silicon or generate 16.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 77.27% |
| Values | Daily Returns |
Walker Dunlop vs. Xian LONGi Silicon
Performance |
| Timeline |
| Walker Dunlop |
| Xian LONGi Silicon |
Walker Dunlop and Xian LONGi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Xian LONGi
The main advantage of trading using opposite Walker Dunlop and Xian LONGi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Xian LONGi 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 Xian LONGi will offset losses from the drop in Xian LONGi'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 |
| Xian LONGi vs. Qingdao Foods Co | Xian LONGi vs. Servyou Software Group | Xian LONGi vs. Xiamen Jihong Package | Xian LONGi vs. Glodon Software Co |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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