Correlation Between Meiwu Technology and 1248EPCB7
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By analyzing existing cross correlation between Meiwu Technology Co and CCO Holdings 5375, you can compare the effects of market volatilities on Meiwu Technology and 1248EPCB7 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 1248EPCB7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Meiwu Technology and 1248EPCB7.
Diversification Opportunities for Meiwu Technology and 1248EPCB7
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Meiwu and 1248EPCB7 is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Meiwu Technology Co and CCO Holdings 5375 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CCO Holdings 5375 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 1248EPCB7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCO Holdings 5375 has no effect on the direction of Meiwu Technology i.e., Meiwu Technology and 1248EPCB7 go up and down completely randomly.
Pair Corralation between Meiwu Technology and 1248EPCB7
Considering the 90-day investment horizon Meiwu Technology Co is expected to generate 5.31 times more return on investment than 1248EPCB7. However, Meiwu Technology is 5.31 times more volatile than CCO Holdings 5375. It trades about 0.24 of its potential returns per unit of risk. CCO Holdings 5375 is currently generating about -0.09 per unit of risk. If you would invest 81.00 in Meiwu Technology Co on August 29, 2024 and sell it today you would earn a total of 15.00 from holding Meiwu Technology Co or generate 18.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Meiwu Technology Co vs. CCO Holdings 5375
Performance |
| Timeline |
| Meiwu Technology |
| CCO Holdings 5375 |
Meiwu Technology and 1248EPCB7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Meiwu Technology and 1248EPCB7
The main advantage of trading using opposite Meiwu Technology and 1248EPCB7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Meiwu Technology position performs unexpectedly, 1248EPCB7 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 1248EPCB7 will offset losses from the drop in 1248EPCB7's long position.| Meiwu Technology vs. MOGU Inc | Meiwu Technology vs. iPower Inc | Meiwu Technology vs. Jeffs Brands | Meiwu Technology vs. Kidpik Corp |
| 1248EPCB7 vs. Valneva SE ADR | 1248EPCB7 vs. Asure Software | 1248EPCB7 vs. BioNTech SE | 1248EPCB7 vs. Meiwu Technology 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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