Correlation Between Shenzhen SDG and Southern PublishingMedia
Specify exactly 2 symbols:
By analyzing existing cross correlation between Shenzhen SDG Information and Southern PublishingMedia Co, you can compare the effects of market volatilities on Shenzhen SDG and Southern PublishingMedia 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 SDG with a short position of Southern PublishingMedia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen SDG and Southern PublishingMedia.
Diversification Opportunities for Shenzhen SDG and Southern PublishingMedia
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Shenzhen and Southern is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen SDG Information and Southern PublishingMedia Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Southern PublishingMedia and Shenzhen SDG 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 SDG Information are associated (or correlated) with Southern PublishingMedia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Southern PublishingMedia has no effect on the direction of Shenzhen SDG i.e., Shenzhen SDG and Southern PublishingMedia go up and down completely randomly.
Pair Corralation between Shenzhen SDG and Southern PublishingMedia
Assuming the 90 days trading horizon Shenzhen SDG is expected to generate 35.54 times less return on investment than Southern PublishingMedia. But when comparing it to its historical volatility, Shenzhen SDG Information is 1.07 times less risky than Southern PublishingMedia. It trades about 0.0 of its potential returns per unit of risk. Southern PublishingMedia Co is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 811.00 in Southern PublishingMedia Co on October 16, 2024 and sell it today you would earn a total of 608.00 from holding Southern PublishingMedia Co or generate 74.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen SDG Information vs. Southern PublishingMedia Co
Performance |
| Timeline |
| Shenzhen SDG Information |
| Southern PublishingMedia |
Shenzhen SDG and Southern PublishingMedia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen SDG and Southern PublishingMedia
The main advantage of trading using opposite Shenzhen SDG and Southern PublishingMedia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen SDG position performs unexpectedly, Southern PublishingMedia 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 Southern PublishingMedia will offset losses from the drop in Southern PublishingMedia's long position.| Shenzhen SDG vs. 360 Security Technology | Shenzhen SDG vs. Xiandai Investment Co | Shenzhen SDG vs. Zhongrun Resources Investment | Shenzhen SDG vs. Kingsignal Technology 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Other Complementary Tools
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon |