Correlation Between Poly Real and Lingyi ITech
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By analyzing existing cross correlation between Poly Real Estate and Lingyi iTech Guangdong, you can compare the effects of market volatilities on Poly Real and Lingyi ITech 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 Poly Real with a short position of Lingyi ITech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Poly Real and Lingyi ITech.
Diversification Opportunities for Poly Real and Lingyi ITech
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Poly and Lingyi is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Poly Real Estate and Lingyi iTech Guangdong in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lingyi iTech Guangdong and Poly Real 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 Poly Real Estate are associated (or correlated) with Lingyi ITech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lingyi iTech Guangdong has no effect on the direction of Poly Real i.e., Poly Real and Lingyi ITech go up and down completely randomly.
Pair Corralation between Poly Real and Lingyi ITech
Assuming the 90 days trading horizon Poly Real Estate is expected to under-perform the Lingyi ITech. But the stock apears to be less risky and, when comparing its historical volatility, Poly Real Estate is 3.39 times less risky than Lingyi ITech. The stock trades about -0.24 of its potential returns per unit of risk. The Lingyi iTech Guangdong is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest 1,552 in Lingyi iTech Guangdong on August 29, 2025 and sell it today you would lose (200.00) from holding Lingyi iTech Guangdong or give up 12.89% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Poly Real Estate vs. Lingyi iTech Guangdong
Performance |
| Timeline |
| Poly Real Estate |
| Lingyi iTech Guangdong |
Poly Real and Lingyi ITech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Poly Real and Lingyi ITech
The main advantage of trading using opposite Poly Real and Lingyi ITech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Poly Real position performs unexpectedly, Lingyi ITech 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 Lingyi ITech will offset losses from the drop in Lingyi ITech's long position.| Poly Real vs. Harbin Hatou Investment | Poly Real vs. Nuode Investment Co | Poly Real vs. Zhejiang Gongdong Medical | Poly Real vs. Chengdu Xingrong Investment |
| Lingyi ITech vs. Success Electronics | Lingyi ITech vs. Nantong Haixing Electronics | Lingyi ITech vs. Goke Microelectronics Co | Lingyi ITech vs. China Asset Management |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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