Correlation Between ButOne Information and Flat Glass
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By analyzing existing cross correlation between ButOne Information Corp and Flat Glass Group, you can compare the effects of market volatilities on ButOne Information and Flat Glass 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 ButOne Information with a short position of Flat Glass. Check out your portfolio center. Please also check ongoing floating volatility patterns of ButOne Information and Flat Glass.
Diversification Opportunities for ButOne Information and Flat Glass
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between ButOne and Flat is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding ButOne Information Corp and Flat Glass Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flat Glass Group and ButOne 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 ButOne Information Corp are associated (or correlated) with Flat Glass. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flat Glass Group has no effect on the direction of ButOne Information i.e., ButOne Information and Flat Glass go up and down completely randomly.
Pair Corralation between ButOne Information and Flat Glass
Assuming the 90 days trading horizon ButOne Information Corp is expected to generate 0.91 times more return on investment than Flat Glass. However, ButOne Information Corp is 1.1 times less risky than Flat Glass. It trades about 0.15 of its potential returns per unit of risk. Flat Glass Group is currently generating about 0.14 per unit of risk. If you would invest 1,716 in ButOne Information Corp on September 24, 2024 and sell it today you would earn a total of 649.00 from holding ButOne Information Corp or generate 37.82% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
ButOne Information Corp vs. Flat Glass Group
Performance |
Timeline |
ButOne Information Corp |
Flat Glass Group |
ButOne Information and Flat Glass Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with ButOne Information and Flat Glass
The main advantage of trading using opposite ButOne Information and Flat Glass positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ButOne Information position performs unexpectedly, Flat Glass 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 Flat Glass will offset losses from the drop in Flat Glass' long position.ButOne Information vs. China State Construction | ButOne Information vs. Poly Real Estate | ButOne Information vs. China Vanke Co | ButOne Information vs. China Merchants Shekou |
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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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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