Correlation Between Citic Offshore and Dongxing Sec
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By analyzing existing cross correlation between Citic Offshore Helicopter and Dongxing Sec Co, you can compare the effects of market volatilities on Citic Offshore and Dongxing Sec 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 Citic Offshore with a short position of Dongxing Sec. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citic Offshore and Dongxing Sec.
Diversification Opportunities for Citic Offshore and Dongxing Sec
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Citic and Dongxing is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding Citic Offshore Helicopter and Dongxing Sec Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dongxing Sec and Citic Offshore 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 Citic Offshore Helicopter are associated (or correlated) with Dongxing Sec. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dongxing Sec has no effect on the direction of Citic Offshore i.e., Citic Offshore and Dongxing Sec go up and down completely randomly.
Pair Corralation between Citic Offshore and Dongxing Sec
Assuming the 90 days trading horizon Citic Offshore Helicopter is expected to generate 1.72 times more return on investment than Dongxing Sec. However, Citic Offshore is 1.72 times more volatile than Dongxing Sec Co. It trades about 0.09 of its potential returns per unit of risk. Dongxing Sec Co is currently generating about 0.04 per unit of risk. If you would invest 795.00 in Citic Offshore Helicopter on October 29, 2024 and sell it today you would earn a total of 1,590 from holding Citic Offshore Helicopter or generate 200.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citic Offshore Helicopter vs. Dongxing Sec Co
Performance |
| Timeline |
| Citic Offshore Helicopter |
| Dongxing Sec |
Citic Offshore and Dongxing Sec Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citic Offshore and Dongxing Sec
The main advantage of trading using opposite Citic Offshore and Dongxing Sec positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citic Offshore position performs unexpectedly, Dongxing Sec 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 Dongxing Sec will offset losses from the drop in Dongxing Sec's long position.| Citic Offshore vs. Linewell Software Co | Citic Offshore vs. Haima Automobile Group | Citic Offshore vs. Beijing Bewinner Communications | Citic Offshore vs. Songz Automobile Air |
| Dongxing Sec vs. Nexchip Semiconductor Corp | Dongxing Sec vs. Bohai Leasing Co | Dongxing Sec vs. GigaDevice SemiconductorBeiji | Dongxing Sec vs. Huizhou Speed Wireless |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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