Correlation Between Financial Street and Chengdu Spaceon
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By analyzing existing cross correlation between Financial Street Holdings and Chengdu Spaceon Electronics, you can compare the effects of market volatilities on Financial Street and Chengdu Spaceon 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 Chengdu Spaceon. Check out your portfolio center. Please also check ongoing floating volatility patterns of Financial Street and Chengdu Spaceon.
Diversification Opportunities for Financial Street and Chengdu Spaceon
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Financial and Chengdu is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Financial Street Holdings and Chengdu Spaceon Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chengdu Spaceon Elec 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 Chengdu Spaceon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chengdu Spaceon Elec has no effect on the direction of Financial Street i.e., Financial Street and Chengdu Spaceon go up and down completely randomly.
Pair Corralation between Financial Street and Chengdu Spaceon
Assuming the 90 days trading horizon Financial Street Holdings is expected to under-perform the Chengdu Spaceon. In addition to that, Financial Street is 1.01 times more volatile than Chengdu Spaceon Electronics. It trades about -0.03 of its total potential returns per unit of risk. Chengdu Spaceon Electronics is currently generating about 0.0 per unit of volatility. If you would invest 1,735 in Chengdu Spaceon Electronics on October 16, 2024 and sell it today you would lose (265.00) from holding Chengdu Spaceon Electronics or give up 15.27% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Financial Street Holdings vs. Chengdu Spaceon Electronics
Performance |
| Timeline |
| Financial Street Holdings |
| Chengdu Spaceon Elec |
Financial Street and Chengdu Spaceon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Financial Street and Chengdu Spaceon
The main advantage of trading using opposite Financial Street and Chengdu Spaceon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Financial Street position performs unexpectedly, Chengdu Spaceon 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 Chengdu Spaceon will offset losses from the drop in Chengdu Spaceon's long position.| Financial Street vs. Zoje Resources Investment | Financial Street vs. Postal Savings Bank | Financial Street vs. Zhongrun Resources Investment | Financial Street vs. Hunan Investment Group |
| Chengdu Spaceon vs. Jiangxi Naipu Mining | Chengdu Spaceon vs. China Life Insurance | Chengdu Spaceon vs. Aba Chemicals Corp | Chengdu Spaceon vs. Chengtun Mining Group |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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