Correlation Between Financial Street and Harvest Fund
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By analyzing existing cross correlation between Financial Street Holdings and Harvest Fund Management, you can compare the effects of market volatilities on Financial Street and Harvest Fund 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 Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Financial Street and Harvest Fund.
Diversification Opportunities for Financial Street and Harvest Fund
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Financial and Harvest is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Financial Street Holdings and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management 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 Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Financial Street i.e., Financial Street and Harvest Fund go up and down completely randomly.
Pair Corralation between Financial Street and Harvest Fund
Assuming the 90 days trading horizon Financial Street Holdings is expected to under-perform the Harvest Fund. In addition to that, Financial Street is 2.07 times more volatile than Harvest Fund Management. It trades about -0.03 of its total potential returns per unit of risk. Harvest Fund Management is currently generating about -0.01 per unit of volatility. If you would invest 356.00 in Harvest Fund Management on October 16, 2024 and sell it today you would lose (27.00) from holding Harvest Fund Management or give up 7.58% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.54% |
| Values | Daily Returns |
Financial Street Holdings vs. Harvest Fund Management
Performance |
| Timeline |
| Financial Street Holdings |
| Harvest Fund Management |
Financial Street and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Financial Street and Harvest Fund
The main advantage of trading using opposite Financial Street and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Financial Street position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund'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 |
| Harvest Fund vs. Easyhome New Retail | Harvest Fund vs. Bank of Communications | Harvest Fund vs. Silkroad Visual Technology | Harvest Fund vs. China Satellite Communications |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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