Correlation Between Financial Street and Bosera CMSK
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By analyzing existing cross correlation between Financial Street Holdings and Bosera CMSK Industrial, you can compare the effects of market volatilities on Financial Street and Bosera CMSK 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 Bosera CMSK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Financial Street and Bosera CMSK.
Diversification Opportunities for Financial Street and Bosera CMSK
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Financial and Bosera is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Financial Street Holdings and Bosera CMSK Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bosera CMSK Industrial 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 Bosera CMSK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bosera CMSK Industrial has no effect on the direction of Financial Street i.e., Financial Street and Bosera CMSK go up and down completely randomly.
Pair Corralation between Financial Street and Bosera CMSK
Assuming the 90 days trading horizon Financial Street Holdings is expected to under-perform the Bosera CMSK. In addition to that, Financial Street is 4.17 times more volatile than Bosera CMSK Industrial. It trades about -0.16 of its total potential returns per unit of risk. Bosera CMSK Industrial is currently generating about 0.22 per unit of volatility. If you would invest 195.00 in Bosera CMSK Industrial on October 11, 2024 and sell it today you would earn a total of 14.00 from holding Bosera CMSK Industrial or generate 7.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Financial Street Holdings vs. Bosera CMSK Industrial
Performance |
| Timeline |
| Financial Street Holdings |
| Bosera CMSK Industrial |
Financial Street and Bosera CMSK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Financial Street and Bosera CMSK
The main advantage of trading using opposite Financial Street and Bosera CMSK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Financial Street position performs unexpectedly, Bosera CMSK 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 Bosera CMSK will offset losses from the drop in Bosera CMSK's long position.| Financial Street vs. Henan Shuanghui Investment | Financial Street vs. Jiujiang Shanshui Technology | Financial Street vs. INKON Life Technology | Financial Street vs. Shanghai Material Trading |
| Bosera CMSK vs. Impulse Qingdao Health | Bosera CMSK vs. Postal Savings Bank | Bosera CMSK vs. Financial Street Holdings | Bosera CMSK vs. Everjoy Health 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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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