Correlation Between Meiwu Technology and GENERAL
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By analyzing existing cross correlation between Meiwu Technology Co and GENERAL ELEC CAP, you can compare the effects of market volatilities on Meiwu Technology and GENERAL 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 GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Meiwu Technology and GENERAL.
Diversification Opportunities for Meiwu Technology and GENERAL
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Meiwu and GENERAL is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Meiwu Technology Co and GENERAL ELEC CAP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GENERAL ELEC CAP 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 GENERAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GENERAL ELEC CAP has no effect on the direction of Meiwu Technology i.e., Meiwu Technology and GENERAL go up and down completely randomly.
Pair Corralation between Meiwu Technology and GENERAL
Considering the 90-day investment horizon Meiwu Technology Co is expected to generate 2.46 times more return on investment than GENERAL. However, Meiwu Technology is 2.46 times more volatile than GENERAL ELEC CAP. It trades about 0.02 of its potential returns per unit of risk. GENERAL ELEC CAP is currently generating about 0.0 per unit of risk. If you would invest 105.00 in Meiwu Technology Co on September 2, 2024 and sell it today you would lose (7.00) from holding Meiwu Technology Co or give up 6.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 20.63% |
| Values | Daily Returns |
Meiwu Technology Co vs. GENERAL ELEC CAP
Performance |
| Timeline |
| Meiwu Technology |
| GENERAL ELEC CAP |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Meiwu Technology and GENERAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Meiwu Technology and GENERAL
The main advantage of trading using opposite Meiwu Technology and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Meiwu Technology position performs unexpectedly, GENERAL 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 GENERAL will offset losses from the drop in GENERAL'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 |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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