Correlation Between Northking Information and Markor International
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By analyzing existing cross correlation between Northking Information Technology and Markor International Home, you can compare the effects of market volatilities on Northking Information and Markor International 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 Northking Information with a short position of Markor International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Northking Information and Markor International.
Diversification Opportunities for Northking Information and Markor International
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Northking and Markor is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Northking Information Technolo and Markor International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Markor International Home and Northking Information 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 Northking Information Technology are associated (or correlated) with Markor International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Markor International Home has no effect on the direction of Northking Information i.e., Northking Information and Markor International go up and down completely randomly.
Pair Corralation between Northking Information and Markor International
Assuming the 90 days trading horizon Northking Information Technology is expected to under-perform the Markor International. But the stock apears to be less risky and, when comparing its historical volatility, Northking Information Technology is 1.52 times less risky than Markor International. The stock trades about -0.12 of its potential returns per unit of risk. The Markor International Home is currently generating about -0.07 of returns per unit of risk over similar time horizon. If you would invest 215.00 in Markor International Home on October 7, 2024 and sell it today you would lose (35.00) from holding Markor International Home or give up 16.28% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Northking Information Technolo vs. Markor International Home
Performance |
Timeline |
Northking Information |
Markor International Home |
Northking Information and Markor International Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Northking Information and Markor International
The main advantage of trading using opposite Northking Information and Markor International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Northking Information position performs unexpectedly, Markor International 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 Markor International will offset losses from the drop in Markor International's long position.Northking Information vs. PetroChina Co Ltd | Northking Information vs. China Mobile Limited | Northking Information vs. CNOOC Limited | Northking Information vs. Ping An Insurance |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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