Correlation Between Loctek Ergonomic and Techshine Electronics
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By analyzing existing cross correlation between Loctek Ergonomic Technology and Techshine Electronics Co, you can compare the effects of market volatilities on Loctek Ergonomic and Techshine Electronics 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 Loctek Ergonomic with a short position of Techshine Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loctek Ergonomic and Techshine Electronics.
Diversification Opportunities for Loctek Ergonomic and Techshine Electronics
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Loctek and Techshine is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Loctek Ergonomic Technology and Techshine Electronics Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Techshine Electronics and Loctek Ergonomic 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 Loctek Ergonomic Technology are associated (or correlated) with Techshine Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Techshine Electronics has no effect on the direction of Loctek Ergonomic i.e., Loctek Ergonomic and Techshine Electronics go up and down completely randomly.
Pair Corralation between Loctek Ergonomic and Techshine Electronics
Assuming the 90 days trading horizon Loctek Ergonomic Technology is expected to under-perform the Techshine Electronics. But the stock apears to be less risky and, when comparing its historical volatility, Loctek Ergonomic Technology is 2.52 times less risky than Techshine Electronics. The stock trades about -0.17 of its potential returns per unit of risk. The Techshine Electronics Co is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 2,765 in Techshine Electronics Co on September 12, 2025 and sell it today you would lose (95.00) from holding Techshine Electronics Co or give up 3.44% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Loctek Ergonomic Technology vs. Techshine Electronics Co
Performance |
| Timeline |
| Loctek Ergonomic Tec |
| Techshine Electronics |
Loctek Ergonomic and Techshine Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loctek Ergonomic and Techshine Electronics
The main advantage of trading using opposite Loctek Ergonomic and Techshine Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loctek Ergonomic position performs unexpectedly, Techshine Electronics 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 Techshine Electronics will offset losses from the drop in Techshine Electronics' long position.| Loctek Ergonomic vs. Bonree Data Technology | Loctek Ergonomic vs. Tianshui Huatian Technology | Loctek Ergonomic vs. Kuang Chi Technologies | Loctek Ergonomic vs. Sharetronic Data Technology |
| Techshine Electronics vs. Hengkang Medical Group | Techshine Electronics vs. Andon Health Co | Techshine Electronics vs. Mingchen Health Co | Techshine Electronics vs. Healthcare Co |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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