Correlation Between Zhongrun Resources and Guangdong Marubi
Specify exactly 2 symbols:
By analyzing existing cross correlation between Zhongrun Resources Investment and Guangdong Marubi Biotechnology, you can compare the effects of market volatilities on Zhongrun Resources and Guangdong Marubi 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 Guangdong Marubi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zhongrun Resources and Guangdong Marubi.
Diversification Opportunities for Zhongrun Resources and Guangdong Marubi
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Zhongrun and Guangdong is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Zhongrun Resources Investment and Guangdong Marubi Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong Marubi Bio 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 Guangdong Marubi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong Marubi Bio has no effect on the direction of Zhongrun Resources i.e., Zhongrun Resources and Guangdong Marubi go up and down completely randomly.
Pair Corralation between Zhongrun Resources and Guangdong Marubi
Assuming the 90 days trading horizon Zhongrun Resources Investment is expected to generate 1.79 times more return on investment than Guangdong Marubi. However, Zhongrun Resources is 1.79 times more volatile than Guangdong Marubi Biotechnology. It trades about 0.02 of its potential returns per unit of risk. Guangdong Marubi Biotechnology is currently generating about 0.03 per unit of risk. If you would invest 412.00 in Zhongrun Resources Investment on October 25, 2024 and sell it today you would earn a total of 1.00 from holding Zhongrun Resources Investment or generate 0.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.5% |
| Values | Daily Returns |
Zhongrun Resources Investment vs. Guangdong Marubi Biotechnology
Performance |
| Timeline |
| Zhongrun Resources |
| Guangdong Marubi Bio |
Zhongrun Resources and Guangdong Marubi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zhongrun Resources and Guangdong Marubi
The main advantage of trading using opposite Zhongrun Resources and Guangdong Marubi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zhongrun Resources position performs unexpectedly, Guangdong Marubi 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 Guangdong Marubi will offset losses from the drop in Guangdong Marubi's long position.| Zhongrun Resources vs. Fujian Anjoy Foods | Zhongrun Resources vs. Eastroc Beverage Group | Zhongrun Resources vs. Xiwang Foodstuffs Co | Zhongrun Resources vs. Malion New Materials |
| Guangdong Marubi vs. Agricultural Bank of | Guangdong Marubi vs. Postal Savings Bank | Guangdong Marubi vs. Bank of Communications | Guangdong Marubi vs. China Merchants Bank |
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.
Other Complementary Tools
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges |