Correlation Between Meiwu Technology and BRIXMOR
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By analyzing existing cross correlation between Meiwu Technology Co and BRIXMOR OPERATING PARTNERSHIP, you can compare the effects of market volatilities on Meiwu Technology and BRIXMOR 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 BRIXMOR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Meiwu Technology and BRIXMOR.
Diversification Opportunities for Meiwu Technology and BRIXMOR
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Meiwu and BRIXMOR is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Meiwu Technology Co and BRIXMOR OPERATING PARTNERSHIP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BRIXMOR OPERATING 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 BRIXMOR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BRIXMOR OPERATING has no effect on the direction of Meiwu Technology i.e., Meiwu Technology and BRIXMOR go up and down completely randomly.
Pair Corralation between Meiwu Technology and BRIXMOR
Considering the 90-day investment horizon Meiwu Technology Co is expected to generate 2.79 times more return on investment than BRIXMOR. However, Meiwu Technology is 2.79 times more volatile than BRIXMOR OPERATING PARTNERSHIP. It trades about 0.52 of its potential returns per unit of risk. BRIXMOR OPERATING PARTNERSHIP is currently generating about -0.28 per unit of risk. If you would invest 79.00 in Meiwu Technology Co on September 12, 2024 and sell it today you would earn a total of 50.00 from holding Meiwu Technology Co or generate 63.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Meiwu Technology Co vs. BRIXMOR OPERATING PARTNERSHIP
Performance |
| Timeline |
| Meiwu Technology |
| BRIXMOR OPERATING |
Meiwu Technology and BRIXMOR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Meiwu Technology and BRIXMOR
The main advantage of trading using opposite Meiwu Technology and BRIXMOR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Meiwu Technology position performs unexpectedly, BRIXMOR 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 BRIXMOR will offset losses from the drop in BRIXMOR's long position.| Meiwu Technology vs. MOGU Inc | Meiwu Technology vs. iPower Inc | Meiwu Technology vs. Jeffs Brands | Meiwu Technology vs. Kidpik Corp |
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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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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