Correlation Between Amlogic Shanghai and Dow Jones
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By analyzing existing cross correlation between Amlogic Shanghai Co and Dow Jones Industrial, you can compare the effects of market volatilities on Amlogic Shanghai 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 Amlogic Shanghai with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amlogic Shanghai and Dow Jones.
Diversification Opportunities for Amlogic Shanghai and Dow Jones
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Amlogic and Dow is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Amlogic Shanghai Co 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 Amlogic Shanghai 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 Amlogic Shanghai Co 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 Amlogic Shanghai i.e., Amlogic Shanghai and Dow Jones go up and down completely randomly.
Pair Corralation between Amlogic Shanghai and Dow Jones
Assuming the 90 days trading horizon Amlogic Shanghai Co is expected to generate 3.46 times more return on investment than Dow Jones. However, Amlogic Shanghai is 3.46 times more volatile than Dow Jones Industrial. It trades about 0.13 of its potential returns per unit of risk. Dow Jones Industrial is currently generating about -0.13 per unit of risk. If you would invest 7,043 in Amlogic Shanghai Co on September 20, 2024 and sell it today you would earn a total of 508.00 from holding Amlogic Shanghai Co or generate 7.21% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 91.3% |
Values | Daily Returns |
Amlogic Shanghai Co vs. Dow Jones Industrial
Performance |
Timeline |
Amlogic Shanghai and Dow Jones Volatility Contrast
Predicted Return Density |
Returns |
Amlogic Shanghai Co
Pair trading matchups for Amlogic Shanghai
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Amlogic Shanghai and Dow Jones
The main advantage of trading using opposite Amlogic Shanghai and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amlogic Shanghai 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.Amlogic Shanghai vs. Beijing HuaYuanYiTong Thermal | Amlogic Shanghai vs. Guangdong Jingyi Metal | Amlogic Shanghai vs. Beijing Mainstreets Investment | Amlogic Shanghai vs. Xinjiang Baodi Mining |
Dow Jones vs. Digi International | Dow Jones vs. Grupo Televisa SAB | Dow Jones vs. United Microelectronics | Dow Jones vs. Weibo Corp |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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