Correlation Between Zhongrun Resources and SSAW Hotels
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By analyzing existing cross correlation between Zhongrun Resources Investment and SSAW Hotels Resorts, you can compare the effects of market volatilities on Zhongrun Resources and SSAW Hotels 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 Zhongrun Resources with a short position of SSAW Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zhongrun Resources and SSAW Hotels.
Diversification Opportunities for Zhongrun Resources and SSAW Hotels
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Zhongrun and SSAW is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Zhongrun Resources Investment and SSAW Hotels Resorts in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SSAW Hotels Resorts and Zhongrun Resources 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 Zhongrun Resources Investment are associated (or correlated) with SSAW Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SSAW Hotels Resorts has no effect on the direction of Zhongrun Resources i.e., Zhongrun Resources and SSAW Hotels go up and down completely randomly.
Pair Corralation between Zhongrun Resources and SSAW Hotels
Assuming the 90 days trading horizon Zhongrun Resources Investment is expected to generate 1.18 times more return on investment than SSAW Hotels. However, Zhongrun Resources is 1.18 times more volatile than SSAW Hotels Resorts. It trades about 0.17 of its potential returns per unit of risk. SSAW Hotels Resorts is currently generating about 0.04 per unit of risk. If you would invest 359.00 in Zhongrun Resources Investment on November 4, 2024 and sell it today you would earn a total of 32.00 from holding Zhongrun Resources Investment or generate 8.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Zhongrun Resources Investment vs. SSAW Hotels Resorts
Performance |
| Timeline |
| Zhongrun Resources |
| SSAW Hotels Resorts |
Zhongrun Resources and SSAW Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zhongrun Resources and SSAW Hotels
The main advantage of trading using opposite Zhongrun Resources and SSAW Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zhongrun Resources position performs unexpectedly, SSAW Hotels 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 SSAW Hotels will offset losses from the drop in SSAW Hotels' long position.| Zhongrun Resources vs. Industrial and Commercial | Zhongrun Resources vs. Agricultural Bank of | Zhongrun Resources vs. China Construction Bank | Zhongrun Resources vs. Bank of China |
| SSAW Hotels vs. Ming Yang Smart | SSAW Hotels vs. 159681 | SSAW Hotels vs. 159005 | SSAW Hotels vs. Loctek Ergonomic Technology |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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