Correlation Between Easyhome New and Soochow Securities
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By analyzing existing cross correlation between Easyhome New Retail and Soochow Securities Co, you can compare the effects of market volatilities on Easyhome New and Soochow Securities 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 Easyhome New with a short position of Soochow Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and Soochow Securities.
Diversification Opportunities for Easyhome New and Soochow Securities
0.03 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Easyhome and Soochow is 0.03. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and Soochow Securities Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Soochow Securities and Easyhome New 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 Easyhome New Retail are associated (or correlated) with Soochow Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Soochow Securities has no effect on the direction of Easyhome New i.e., Easyhome New and Soochow Securities go up and down completely randomly.
Pair Corralation between Easyhome New and Soochow Securities
Assuming the 90 days trading horizon Easyhome New Retail is expected to generate 1.92 times more return on investment than Soochow Securities. However, Easyhome New is 1.92 times more volatile than Soochow Securities Co. It trades about 0.14 of its potential returns per unit of risk. Soochow Securities Co is currently generating about -0.13 per unit of risk. If you would invest 297.00 in Easyhome New Retail on October 8, 2024 and sell it today you would earn a total of 120.00 from holding Easyhome New Retail or generate 40.4% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Easyhome New Retail vs. Soochow Securities Co
Performance |
Timeline |
Easyhome New Retail |
Soochow Securities |
Easyhome New and Soochow Securities Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Easyhome New and Soochow Securities
The main advantage of trading using opposite Easyhome New and Soochow Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, Soochow Securities 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 Soochow Securities will offset losses from the drop in Soochow Securities' long position.Easyhome New vs. Yingde Greatchem Chemicals | Easyhome New vs. Shenzhen Noposion Agrochemicals | Easyhome New vs. Youyou Foods Co | Easyhome New vs. Guilin Seamild Foods |
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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 CEOs Directory module to screen CEOs from public companies around the world.
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