Correlation Between Imeik Technology and Dow Jones
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By analyzing existing cross correlation between Imeik Technology Development and Dow Jones Industrial, you can compare the effects of market volatilities on Imeik Technology and Dow Jones 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 Imeik Technology with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Imeik Technology and Dow Jones.
Diversification Opportunities for Imeik Technology and Dow Jones
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Imeik and Dow is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Imeik Technology Development and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and Imeik Technology 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 Imeik Technology Development are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Imeik Technology i.e., Imeik Technology and Dow Jones go up and down completely randomly.
Pair Corralation between Imeik Technology and Dow Jones
Assuming the 90 days trading horizon Imeik Technology Development is expected to generate 2.22 times more return on investment than Dow Jones. However, Imeik Technology is 2.22 times more volatile than Dow Jones Industrial. It trades about -0.03 of its potential returns per unit of risk. Dow Jones Industrial is currently generating about -0.31 per unit of risk. If you would invest 17,794 in Imeik Technology Development on December 10, 2024 and sell it today you would lose (305.00) from holding Imeik Technology Development or give up 1.71% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 95.24% |
Values | Daily Returns |
Imeik Technology Development vs. Dow Jones Industrial
Performance |
Timeline |
Imeik Technology and Dow Jones Volatility Contrast
Predicted Return Density |
Returns |
Imeik Technology Development
Pair trading matchups for Imeik Technology
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Imeik Technology and Dow Jones
The main advantage of trading using opposite Imeik Technology and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Imeik Technology position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.Imeik Technology vs. Shandong Mining Machinery | Imeik Technology vs. Sichuan Newsnet Media | Imeik Technology vs. Zijin Mining Group | Imeik Technology vs. Zhengzhou Coal Mining |
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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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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