Correlation Between Pintec Technology and Topsports International
Can any of the company-specific risk be diversified away by investing in both Pintec Technology and Topsports International 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 Pintec Technology and Topsports International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Pintec Technology Holdings and Topsports International Holdings, you can compare the effects of market volatilities on Pintec Technology and Topsports International 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 Pintec Technology with a short position of Topsports International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pintec Technology and Topsports International.
Diversification Opportunities for Pintec Technology and Topsports International
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Pintec and Topsports is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Pintec Technology Holdings and Topsports International Holdin in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Topsports International and Pintec 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 Pintec Technology Holdings are associated (or correlated) with Topsports International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Topsports International has no effect on the direction of Pintec Technology i.e., Pintec Technology and Topsports International go up and down completely randomly.
Pair Corralation between Pintec Technology and Topsports International
Allowing for the 90-day total investment horizon Pintec Technology Holdings is expected to under-perform the Topsports International. In addition to that, Pintec Technology is 1.16 times more volatile than Topsports International Holdings. It trades about -0.03 of its total potential returns per unit of risk. Topsports International Holdings is currently generating about 0.03 per unit of volatility. If you would invest 38.00 in Topsports International Holdings on September 9, 2025 and sell it today you would earn a total of 1.00 from holding Topsports International Holdings or generate 2.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Pintec Technology Holdings vs. Topsports International Holdin
Performance |
| Timeline |
| Pintec Technology |
| Topsports International |
Pintec Technology and Topsports International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pintec Technology and Topsports International
The main advantage of trading using opposite Pintec Technology and Topsports International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pintec Technology position performs unexpectedly, Topsports International 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 Topsports International will offset losses from the drop in Topsports International's long position.| Pintec Technology vs. Eason Technology Limited | Pintec Technology vs. Nisun International Enterprise | Pintec Technology vs. Sentage Holdings | Pintec Technology vs. Senmiao Technology |
| Topsports International vs. Xtep International Holdings | Topsports International vs. Yamada Holdings Co | Topsports International vs. Nifco Inc ADR | Topsports International vs. Dixons Carphone plc |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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