Correlation Between Meiwu Technology and BERKSHIRE
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By analyzing existing cross correlation between Meiwu Technology Co and BERKSHIRE HATHAWAY FIN, you can compare the effects of market volatilities on Meiwu Technology and BERKSHIRE 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 Meiwu Technology with a short position of BERKSHIRE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Meiwu Technology and BERKSHIRE.
Diversification Opportunities for Meiwu Technology and BERKSHIRE
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Meiwu and BERKSHIRE is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Meiwu Technology Co and BERKSHIRE HATHAWAY FIN in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BERKSHIRE HATHAWAY FIN and Meiwu Technology 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 Meiwu Technology Co are associated (or correlated) with BERKSHIRE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BERKSHIRE HATHAWAY FIN has no effect on the direction of Meiwu Technology i.e., Meiwu Technology and BERKSHIRE go up and down completely randomly.
Pair Corralation between Meiwu Technology and BERKSHIRE
Considering the 90-day investment horizon Meiwu Technology Co is expected to generate 5.82 times more return on investment than BERKSHIRE. However, Meiwu Technology is 5.82 times more volatile than BERKSHIRE HATHAWAY FIN. It trades about 0.02 of its potential returns per unit of risk. BERKSHIRE HATHAWAY FIN is currently generating about -0.01 per unit of risk. If you would invest 103.00 in Meiwu Technology Co on September 1, 2024 and sell it today you would lose (5.00) from holding Meiwu Technology Co or give up 4.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.21% |
| Values | Daily Returns |
Meiwu Technology Co vs. BERKSHIRE HATHAWAY FIN
Performance |
| Timeline |
| Meiwu Technology |
| BERKSHIRE HATHAWAY FIN |
Meiwu Technology and BERKSHIRE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Meiwu Technology and BERKSHIRE
The main advantage of trading using opposite Meiwu Technology and BERKSHIRE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Meiwu Technology position performs unexpectedly, BERKSHIRE 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 BERKSHIRE will offset losses from the drop in BERKSHIRE's long position.| Meiwu Technology vs. MOGU Inc | Meiwu Technology vs. iPower Inc | Meiwu Technology vs. Jeffs Brands | Meiwu Technology vs. Kidpik Corp |
| BERKSHIRE vs. Southwest Gas Holdings | BERKSHIRE vs. NiSource | BERKSHIRE vs. Black Hills | BERKSHIRE vs. PGE Corp |
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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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