Correlation Between QINGCI GAMES and Boston Properties
Can any of the company-specific risk be diversified away by investing in both QINGCI GAMES and Boston Properties at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining QINGCI GAMES and Boston Properties into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between QINGCI GAMES INC and Boston Properties, you can compare the effects of market volatilities on QINGCI GAMES and Boston Properties 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 QINGCI GAMES with a short position of Boston Properties. Check out your portfolio center. Please also check ongoing floating volatility patterns of QINGCI GAMES and Boston Properties.
Diversification Opportunities for QINGCI GAMES and Boston Properties
-0.8 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between QINGCI and Boston is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding QINGCI GAMES INC and Boston Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Boston Properties and QINGCI GAMES 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 QINGCI GAMES INC are associated (or correlated) with Boston Properties. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Boston Properties has no effect on the direction of QINGCI GAMES i.e., QINGCI GAMES and Boston Properties go up and down completely randomly.
Pair Corralation between QINGCI GAMES and Boston Properties
Assuming the 90 days horizon QINGCI GAMES INC is expected to under-perform the Boston Properties. But the stock apears to be less risky and, when comparing its historical volatility, QINGCI GAMES INC is 1.07 times less risky than Boston Properties. The stock trades about -0.11 of its potential returns per unit of risk. The Boston Properties is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest 7,160 in Boston Properties on November 3, 2024 and sell it today you would lose (112.00) from holding Boston Properties or give up 1.56% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
QINGCI GAMES INC vs. Boston Properties
Performance |
| Timeline |
| QINGCI GAMES INC |
| Boston Properties |
QINGCI GAMES and Boston Properties Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with QINGCI GAMES and Boston Properties
The main advantage of trading using opposite QINGCI GAMES and Boston Properties positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if QINGCI GAMES position performs unexpectedly, Boston Properties 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 Boston Properties will offset losses from the drop in Boston Properties' long position.| QINGCI GAMES vs. SINGAPORE AIRLINES | QINGCI GAMES vs. American Airlines Group | QINGCI GAMES vs. TEXAS ROADHOUSE | QINGCI GAMES vs. China Eastern Airlines |
| Boston Properties vs. Great Portland Estates | Boston Properties vs. Easterly Government Properties | Boston Properties vs. Office Properties Income | Boston Properties vs. CITY OFFICE REIT |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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