Correlation Between Shenzhen Transsion and Easyhome New
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By analyzing existing cross correlation between Shenzhen Transsion Holdings and Easyhome New Retail, you can compare the effects of market volatilities on Shenzhen Transsion and Easyhome New 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 Shenzhen Transsion with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Transsion and Easyhome New.
Diversification Opportunities for Shenzhen Transsion and Easyhome New
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Shenzhen and Easyhome is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Transsion Holdings and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Shenzhen Transsion 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 Shenzhen Transsion Holdings are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Shenzhen Transsion i.e., Shenzhen Transsion and Easyhome New go up and down completely randomly.
Pair Corralation between Shenzhen Transsion and Easyhome New
Assuming the 90 days trading horizon Shenzhen Transsion is expected to generate 1.89 times less return on investment than Easyhome New. In addition to that, Shenzhen Transsion is 1.35 times more volatile than Easyhome New Retail. It trades about 0.1 of its total potential returns per unit of risk. Easyhome New Retail is currently generating about 0.24 per unit of volatility. If you would invest 230.00 in Easyhome New Retail on September 12, 2024 and sell it today you would earn a total of 126.00 from holding Easyhome New Retail or generate 54.78% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Shenzhen Transsion Holdings vs. Easyhome New Retail
Performance |
Timeline |
Shenzhen Transsion |
Easyhome New Retail |
Shenzhen Transsion and Easyhome New Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Shenzhen Transsion and Easyhome New
The main advantage of trading using opposite Shenzhen Transsion and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Transsion position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.Shenzhen Transsion vs. State Grid InformationCommunication | Shenzhen Transsion vs. Saurer Intelligent Technology | Shenzhen Transsion vs. Changchun UP Optotech | Shenzhen Transsion vs. Jiangxi Hengda Hi Tech |
Easyhome New vs. Lutian Machinery Co | Easyhome New vs. PetroChina Co Ltd | Easyhome New vs. Bank of China | Easyhome New vs. Gansu Jiu Steel |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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