Correlation Between Financial Street and Henan Shuanghui
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By analyzing existing cross correlation between Financial Street Holdings and Henan Shuanghui Investment, you can compare the effects of market volatilities on Financial Street and Henan Shuanghui 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 Financial Street with a short position of Henan Shuanghui. Check out your portfolio center. Please also check ongoing floating volatility patterns of Financial Street and Henan Shuanghui.
Diversification Opportunities for Financial Street and Henan Shuanghui
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between Financial and Henan is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Financial Street Holdings and Henan Shuanghui Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Henan Shuanghui Inve and Financial Street 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 Financial Street Holdings are associated (or correlated) with Henan Shuanghui. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Henan Shuanghui Inve has no effect on the direction of Financial Street i.e., Financial Street and Henan Shuanghui go up and down completely randomly.
Pair Corralation between Financial Street and Henan Shuanghui
Assuming the 90 days trading horizon Financial Street Holdings is expected to under-perform the Henan Shuanghui. In addition to that, Financial Street is 2.41 times more volatile than Henan Shuanghui Investment. It trades about -0.28 of its total potential returns per unit of risk. Henan Shuanghui Investment is currently generating about -0.11 per unit of volatility. If you would invest 2,609 in Henan Shuanghui Investment on October 27, 2024 and sell it today you would lose (66.00) from holding Henan Shuanghui Investment or give up 2.53% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Financial Street Holdings vs. Henan Shuanghui Investment
Performance |
| Timeline |
| Financial Street Holdings |
| Henan Shuanghui Inve |
Financial Street and Henan Shuanghui Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Financial Street and Henan Shuanghui
The main advantage of trading using opposite Financial Street and Henan Shuanghui positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Financial Street position performs unexpectedly, Henan Shuanghui 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 Henan Shuanghui will offset losses from the drop in Henan Shuanghui's long position.| Financial Street vs. HeNan Splendor Science | Financial Street vs. Ningbo Jintian Copper | Financial Street vs. Shenwu Energy Saving | Financial Street vs. Shanghai Yanpu Metal |
| Henan Shuanghui vs. Guangdong Silvere Sci | Henan Shuanghui vs. Pengxin International Mining | Henan Shuanghui vs. Uroica Mining Safety | Henan Shuanghui vs. Fujian Oriental Silver |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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