Correlation Between Meiwu Technology and GEORGETOWN
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By analyzing existing cross correlation between Meiwu Technology Co and GEORGETOWN UNIV 4315, you can compare the effects of market volatilities on Meiwu Technology and GEORGETOWN 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 GEORGETOWN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Meiwu Technology and GEORGETOWN.
Diversification Opportunities for Meiwu Technology and GEORGETOWN
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Meiwu and GEORGETOWN is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding Meiwu Technology Co and GEORGETOWN UNIV 4315 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GEORGETOWN UNIV 4315 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 GEORGETOWN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GEORGETOWN UNIV 4315 has no effect on the direction of Meiwu Technology i.e., Meiwu Technology and GEORGETOWN go up and down completely randomly.
Pair Corralation between Meiwu Technology and GEORGETOWN
Considering the 90-day investment horizon Meiwu Technology Co is expected to generate 6.35 times more return on investment than GEORGETOWN. However, Meiwu Technology is 6.35 times more volatile than GEORGETOWN UNIV 4315. It trades about 0.03 of its potential returns per unit of risk. GEORGETOWN UNIV 4315 is currently generating about 0.06 per unit of risk. If you would invest 305.00 in Meiwu Technology Co on September 14, 2024 and sell it today you would lose (145.00) from holding Meiwu Technology Co or give up 47.54% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 42.01% |
| Values | Daily Returns |
Meiwu Technology Co vs. GEORGETOWN UNIV 4315
Performance |
| Timeline |
| Meiwu Technology |
| GEORGETOWN UNIV 4315 |
Meiwu Technology and GEORGETOWN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Meiwu Technology and GEORGETOWN
The main advantage of trading using opposite Meiwu Technology and GEORGETOWN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Meiwu Technology position performs unexpectedly, GEORGETOWN 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 GEORGETOWN will offset losses from the drop in GEORGETOWN's long position.| Meiwu Technology vs. MOGU Inc | Meiwu Technology vs. iPower Inc | Meiwu Technology vs. Jeffs Brands | Meiwu Technology vs. Kidpik Corp |
| GEORGETOWN vs. Microbot Medical | GEORGETOWN vs. Teleflex Incorporated | GEORGETOWN vs. Meiwu Technology Co | GEORGETOWN vs. Avadel Pharmaceuticals PLC |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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