Correlation Between Meiwu Technology and CAPITAL
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By analyzing existing cross correlation between Meiwu Technology Co and CAPITAL ONE FINL, you can compare the effects of market volatilities on Meiwu Technology and CAPITAL 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 CAPITAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Meiwu Technology and CAPITAL.
Diversification Opportunities for Meiwu Technology and CAPITAL
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Meiwu and CAPITAL is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Meiwu Technology Co and CAPITAL ONE FINL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CAPITAL ONE FINL 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 CAPITAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CAPITAL ONE FINL has no effect on the direction of Meiwu Technology i.e., Meiwu Technology and CAPITAL go up and down completely randomly.
Pair Corralation between Meiwu Technology and CAPITAL
Considering the 90-day investment horizon Meiwu Technology Co is expected to generate 4.53 times more return on investment than CAPITAL. However, Meiwu Technology is 4.53 times more volatile than CAPITAL ONE FINL. It trades about 0.32 of its potential returns per unit of risk. CAPITAL ONE FINL is currently generating about -0.19 per unit of risk. If you would invest 78.00 in Meiwu Technology Co on September 2, 2024 and sell it today you would earn a total of 20.00 from holding Meiwu Technology Co or generate 25.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Meiwu Technology Co vs. CAPITAL ONE FINL
Performance |
| Timeline |
| Meiwu Technology |
| CAPITAL ONE FINL |
Meiwu Technology and CAPITAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Meiwu Technology and CAPITAL
The main advantage of trading using opposite Meiwu Technology and CAPITAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Meiwu Technology position performs unexpectedly, CAPITAL 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 CAPITAL will offset losses from the drop in CAPITAL's long position.| Meiwu Technology vs. BJs Wholesale Club | Meiwu Technology vs. Dollar General | Meiwu Technology vs. Grocery Outlet Holding | Meiwu Technology vs. Kroger Company |
| CAPITAL vs. Valvoline | CAPITAL vs. WiMi Hologram Cloud | CAPITAL vs. Meiwu Technology Co | CAPITAL vs. Casio Computer 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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