Correlation Between Risuntek and Espey Mfg
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By analyzing existing cross correlation between Risuntek and Espey Mfg Electronics, you can compare the effects of market volatilities on Risuntek and Espey Mfg 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 Risuntek with a short position of Espey Mfg. Check out your portfolio center. Please also check ongoing floating volatility patterns of Risuntek and Espey Mfg.
Diversification Opportunities for Risuntek and Espey Mfg
Weak diversification
The 3 months correlation between Risuntek and Espey is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Risuntek and Espey Mfg Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Espey Mfg Electronics and Risuntek 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 Risuntek are associated (or correlated) with Espey Mfg. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Espey Mfg Electronics has no effect on the direction of Risuntek i.e., Risuntek and Espey Mfg go up and down completely randomly.
Pair Corralation between Risuntek and Espey Mfg
Assuming the 90 days trading horizon Risuntek is expected to under-perform the Espey Mfg. But the stock apears to be less risky and, when comparing its historical volatility, Risuntek is 1.24 times less risky than Espey Mfg. The stock trades about -0.16 of its potential returns per unit of risk. The Espey Mfg Electronics is currently generating about -0.07 of returns per unit of risk over similar time horizon. If you would invest 4,417 in Espey Mfg Electronics on August 26, 2025 and sell it today you would lose (667.00) from holding Espey Mfg Electronics or give up 15.1% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 92.19% |
| Values | Daily Returns |
Risuntek vs. Espey Mfg Electronics
Performance |
| Timeline |
| Risuntek |
| Espey Mfg Electronics |
Risuntek and Espey Mfg Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Risuntek and Espey Mfg
The main advantage of trading using opposite Risuntek and Espey Mfg positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Risuntek position performs unexpectedly, Espey Mfg 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 Espey Mfg will offset losses from the drop in Espey Mfg's long position.| Risuntek vs. Fibocom Wireless | Risuntek vs. Sichuan Fulin Transportation | Risuntek vs. China Sports Industry | Risuntek vs. Zotye Automobile Co |
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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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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