Correlation Between Walker Dunlop and Liaoning Chengda
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By analyzing existing cross correlation between Walker Dunlop and Liaoning Chengda Biotechnology, you can compare the effects of market volatilities on Walker Dunlop and Liaoning Chengda 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 Liaoning Chengda. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Liaoning Chengda.
Diversification Opportunities for Walker Dunlop and Liaoning Chengda
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Walker and Liaoning is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Liaoning Chengda Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Liaoning Chengda Bio 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 Liaoning Chengda. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Liaoning Chengda Bio has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Liaoning Chengda go up and down completely randomly.
Pair Corralation between Walker Dunlop and Liaoning Chengda
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 1.03 times more return on investment than Liaoning Chengda. However, Walker Dunlop is 1.03 times more volatile than Liaoning Chengda Biotechnology. It trades about 0.0 of its potential returns per unit of risk. Liaoning Chengda Biotechnology is currently generating about -0.02 per unit of risk. If you would invest 11,127 in Walker Dunlop on August 30, 2024 and sell it today you would lose (45.00) from holding Walker Dunlop or give up 0.4% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Walker Dunlop vs. Liaoning Chengda Biotechnology
Performance |
| Timeline |
| Walker Dunlop |
| Liaoning Chengda Bio |
Walker Dunlop and Liaoning Chengda Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Liaoning Chengda
The main advantage of trading using opposite Walker Dunlop and Liaoning Chengda positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Liaoning Chengda 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 Liaoning Chengda will offset losses from the drop in Liaoning Chengda'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 |
| Liaoning Chengda vs. Industrial and Commercial | Liaoning Chengda vs. Agricultural Bank of | Liaoning Chengda vs. China Construction Bank | Liaoning Chengda vs. Bank of China |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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