Correlation Between Lander Sports and Gotion High
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By analyzing existing cross correlation between Lander Sports Development and Gotion High tech, you can compare the effects of market volatilities on Lander Sports and Gotion High 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 Lander Sports with a short position of Gotion High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and Gotion High.
Diversification Opportunities for Lander Sports and Gotion High
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Lander and Gotion is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and Gotion High tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gotion High tech and Lander Sports 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 Lander Sports Development are associated (or correlated) with Gotion High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gotion High tech has no effect on the direction of Lander Sports i.e., Lander Sports and Gotion High go up and down completely randomly.
Pair Corralation between Lander Sports and Gotion High
Assuming the 90 days trading horizon Lander Sports Development is expected to generate 1.42 times more return on investment than Gotion High. However, Lander Sports is 1.42 times more volatile than Gotion High tech. It trades about 0.19 of its potential returns per unit of risk. Gotion High tech is currently generating about 0.11 per unit of risk. If you would invest 231.00 in Lander Sports Development on September 23, 2024 and sell it today you would earn a total of 144.00 from holding Lander Sports Development or generate 62.34% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Lander Sports Development vs. Gotion High tech
Performance |
Timeline |
Lander Sports Development |
Gotion High tech |
Lander Sports and Gotion High Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Lander Sports and Gotion High
The main advantage of trading using opposite Lander Sports and Gotion High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, Gotion High 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 Gotion High will offset losses from the drop in Gotion High's long position.Lander Sports vs. PetroChina Co Ltd | Lander Sports vs. China Mobile Limited | Lander Sports vs. CNOOC Limited | Lander Sports vs. Ping An Insurance |
Gotion High vs. China Sports Industry | Gotion High vs. Shuhua Sports Co | Gotion High vs. Guangdong Silvere Sci | Gotion High vs. Lander Sports Development |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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