Correlation Between ROPEOK Technology and AUPU Home
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By analyzing existing cross correlation between ROPEOK Technology Group and AUPU Home Style, you can compare the effects of market volatilities on ROPEOK Technology and AUPU Home 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 ROPEOK Technology with a short position of AUPU Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of ROPEOK Technology and AUPU Home.
Diversification Opportunities for ROPEOK Technology and AUPU Home
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between ROPEOK and AUPU is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding ROPEOK Technology Group and AUPU Home Style in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AUPU Home Style and ROPEOK 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 ROPEOK Technology Group are associated (or correlated) with AUPU Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AUPU Home Style has no effect on the direction of ROPEOK Technology i.e., ROPEOK Technology and AUPU Home go up and down completely randomly.
Pair Corralation between ROPEOK Technology and AUPU Home
Assuming the 90 days trading horizon ROPEOK Technology Group is expected to generate 1.81 times more return on investment than AUPU Home. However, ROPEOK Technology is 1.81 times more volatile than AUPU Home Style. It trades about 0.24 of its potential returns per unit of risk. AUPU Home Style is currently generating about 0.15 per unit of risk. If you would invest 580.00 in ROPEOK Technology Group on September 7, 2024 and sell it today you would earn a total of 416.00 from holding ROPEOK Technology Group or generate 71.72% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 100.0% |
Values | Daily Returns |
ROPEOK Technology Group vs. AUPU Home Style
Performance |
Timeline |
ROPEOK Technology |
AUPU Home Style |
ROPEOK Technology and AUPU Home Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with ROPEOK Technology and AUPU Home
The main advantage of trading using opposite ROPEOK Technology and AUPU Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ROPEOK Technology position performs unexpectedly, AUPU Home 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 AUPU Home will offset losses from the drop in AUPU Home's long position.ROPEOK Technology vs. Industrial and Commercial | ROPEOK Technology vs. China Construction Bank | ROPEOK Technology vs. Bank of China | ROPEOK Technology vs. Agricultural Bank of |
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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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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