Correlation Between Integrated Electronic and Sinomine Resource
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By analyzing existing cross correlation between Integrated Electronic Systems and Sinomine Resource Exploration, you can compare the effects of market volatilities on Integrated Electronic and Sinomine Resource 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 Integrated Electronic with a short position of Sinomine Resource. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integrated Electronic and Sinomine Resource.
Diversification Opportunities for Integrated Electronic and Sinomine Resource
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Integrated and Sinomine is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Integrated Electronic Systems and Sinomine Resource Exploration in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sinomine Resource and Integrated Electronic 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 Integrated Electronic Systems are associated (or correlated) with Sinomine Resource. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sinomine Resource has no effect on the direction of Integrated Electronic i.e., Integrated Electronic and Sinomine Resource go up and down completely randomly.
Pair Corralation between Integrated Electronic and Sinomine Resource
Assuming the 90 days trading horizon Integrated Electronic Systems is expected to generate 1.24 times more return on investment than Sinomine Resource. However, Integrated Electronic is 1.24 times more volatile than Sinomine Resource Exploration. It trades about 0.0 of its potential returns per unit of risk. Sinomine Resource Exploration is currently generating about -0.03 per unit of risk. If you would invest 725.00 in Integrated Electronic Systems on October 5, 2024 and sell it today you would lose (42.00) from holding Integrated Electronic Systems or give up 5.79% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Integrated Electronic Systems vs. Sinomine Resource Exploration
Performance |
Timeline |
Integrated Electronic |
Sinomine Resource |
Integrated Electronic and Sinomine Resource Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Integrated Electronic and Sinomine Resource
The main advantage of trading using opposite Integrated Electronic and Sinomine Resource positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integrated Electronic position performs unexpectedly, Sinomine Resource 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 Sinomine Resource will offset losses from the drop in Sinomine Resource's long position.Integrated Electronic vs. Industrial and Commercial | Integrated Electronic vs. China Construction Bank | Integrated Electronic vs. Agricultural Bank of | Integrated Electronic vs. Bank of China |
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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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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