Correlation Between China Health and Exodus Movement,

Can any of the company-specific risk be diversified away by investing in both China Health and Exodus Movement, at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining China Health and Exodus Movement, into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between China Health Industries and Exodus Movement,, you can compare the effects of market volatilities on China Health and Exodus Movement, 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 China Health with a short position of Exodus Movement,. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Health and Exodus Movement,.

Diversification Opportunities for China Health and Exodus Movement,

-0.76

Correlation Coefficient

China Health  Exodus Movement,

Pay attention - limited upside

The 3 months correlation between China and Exodus is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding China Health Industries and Exodus Movement, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Exodus Movement, and China Health 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 China Health Industries are associated (or correlated) with Exodus Movement,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exodus Movement, has no effect on the direction of China Health i.e., China Health and Exodus Movement, go up and down completely randomly.

Pair Corralation between China Health and Exodus Movement,

Given the investment horizon of 90 days China Health Industries is expected to under-perform the Exodus Movement,. But the pink sheet apears to be less risky and, when comparing its historical volatility, China Health Industries is 3.62 times less risky than Exodus Movement,. The pink sheet trades about -0.08 of its potential returns per unit of risk. The Exodus Movement, is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest  1,510  in Exodus Movement, on September 30, 2024 and sell it today you would earn a total of  2,548  from holding Exodus Movement, or generate 168.74% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	100.0%
Values	Daily Returns

China Health Industries  vs.  Exodus Movement,

China Health Industries

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days China Health Industries has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Stock's technical indicators remain rather sound which may send shares a bit higher in January 2025. The latest tumult may also be a sign of longer-term up-swing for the firm shareholders.

Exodus Movement,

Risk-Adjusted Performance

15 of 100

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Exodus Movement, are ranked lower than 15 (%) of all global equities and portfolios over the last 90 days. In spite of rather abnormal basic indicators, Exodus Movement, exhibited solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with China Health and Exodus Movement,

The main advantage of trading using opposite China Health and Exodus Movement, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Health position performs unexpectedly, Exodus Movement, 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 Exodus Movement, will offset losses from the drop in Exodus Movement,'s long position.

The idea behind China Health Industries and Exodus Movement, pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.