Correlation Between Shenzhen Centralcon and Inner Mongolia
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By analyzing existing cross correlation between Shenzhen Centralcon Investment and Inner Mongolia BaoTou, you can compare the effects of market volatilities on Shenzhen Centralcon and Inner Mongolia 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 Shenzhen Centralcon with a short position of Inner Mongolia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Centralcon and Inner Mongolia.
Diversification Opportunities for Shenzhen Centralcon and Inner Mongolia
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Shenzhen and Inner is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Centralcon Investment and Inner Mongolia BaoTou in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inner Mongolia BaoTou and Shenzhen Centralcon 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 Shenzhen Centralcon Investment are associated (or correlated) with Inner Mongolia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inner Mongolia BaoTou has no effect on the direction of Shenzhen Centralcon i.e., Shenzhen Centralcon and Inner Mongolia go up and down completely randomly.
Pair Corralation between Shenzhen Centralcon and Inner Mongolia
Assuming the 90 days trading horizon Shenzhen Centralcon Investment is expected to under-perform the Inner Mongolia. In addition to that, Shenzhen Centralcon is 1.78 times more volatile than Inner Mongolia BaoTou. It trades about -0.03 of its total potential returns per unit of risk. Inner Mongolia BaoTou is currently generating about -0.01 per unit of volatility. If you would invest 204.00 in Inner Mongolia BaoTou on October 16, 2024 and sell it today you would lose (25.00) from holding Inner Mongolia BaoTou or give up 12.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen Centralcon Investment vs. Inner Mongolia BaoTou
Performance |
| Timeline |
| Shenzhen Centralcon |
| Inner Mongolia BaoTou |
Shenzhen Centralcon and Inner Mongolia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Centralcon and Inner Mongolia
The main advantage of trading using opposite Shenzhen Centralcon and Inner Mongolia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Centralcon position performs unexpectedly, Inner Mongolia 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 Inner Mongolia will offset losses from the drop in Inner Mongolia's long position.| Shenzhen Centralcon vs. Hunan Investment Group | Shenzhen Centralcon vs. Duzhe Publishing Media | Shenzhen Centralcon vs. Shuhua Sports Co | Shenzhen Centralcon vs. Anhui Xinhua Media |
| Inner Mongolia vs. ROPEOK Technology Group | Inner Mongolia vs. Shenzhen Centralcon Investment | Inner Mongolia vs. Eyebright Medical Technology | Inner Mongolia vs. Linewell Software 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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