Correlation Between Meiwu Technology and 548661EM5
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By analyzing existing cross correlation between Meiwu Technology Co and LOW 5625 15 APR 53, you can compare the effects of market volatilities on Meiwu Technology and 548661EM5 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 548661EM5. Check out your portfolio center. Please also check ongoing floating volatility patterns of Meiwu Technology and 548661EM5.
Diversification Opportunities for Meiwu Technology and 548661EM5
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Meiwu and 548661EM5 is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Meiwu Technology Co and LOW 5625 15 APR 53 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LOW 5625 15 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 548661EM5. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LOW 5625 15 has no effect on the direction of Meiwu Technology i.e., Meiwu Technology and 548661EM5 go up and down completely randomly.
Pair Corralation between Meiwu Technology and 548661EM5
Considering the 90-day investment horizon Meiwu Technology Co is expected to generate 7.29 times more return on investment than 548661EM5. However, Meiwu Technology is 7.29 times more volatile than LOW 5625 15 APR 53. It trades about 0.0 of its potential returns per unit of risk. LOW 5625 15 APR 53 is currently generating about 0.01 per unit of risk. If you would invest 770.00 in Meiwu Technology Co on September 13, 2024 and sell it today you would lose (640.00) from holding Meiwu Technology Co or give up 83.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.55% |
| Values | Daily Returns |
Meiwu Technology Co vs. LOW 5625 15 APR 53
Performance |
| Timeline |
| Meiwu Technology |
| LOW 5625 15 |
Meiwu Technology and 548661EM5 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Meiwu Technology and 548661EM5
The main advantage of trading using opposite Meiwu Technology and 548661EM5 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Meiwu Technology position performs unexpectedly, 548661EM5 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 548661EM5 will offset losses from the drop in 548661EM5's long position.| Meiwu Technology vs. MOGU Inc | Meiwu Technology vs. iPower Inc | Meiwu Technology vs. Jeffs Brands | Meiwu Technology vs. Kidpik Corp |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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