Correlation Between Lander Sports and Shenwu Energy
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By analyzing existing cross correlation between Lander Sports Development and Shenwu Energy Saving, you can compare the effects of market volatilities on Lander Sports and Shenwu Energy 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 Lander Sports with a short position of Shenwu Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and Shenwu Energy.
Diversification Opportunities for Lander Sports and Shenwu Energy
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Lander and Shenwu is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and Shenwu Energy Saving in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenwu Energy Saving and Lander Sports 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 Lander Sports Development are associated (or correlated) with Shenwu Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenwu Energy Saving has no effect on the direction of Lander Sports i.e., Lander Sports and Shenwu Energy go up and down completely randomly.
Pair Corralation between Lander Sports and Shenwu Energy
Assuming the 90 days trading horizon Lander Sports is expected to generate 1.23 times less return on investment than Shenwu Energy. But when comparing it to its historical volatility, Lander Sports Development is 1.0 times less risky than Shenwu Energy. It trades about 0.11 of its potential returns per unit of risk. Shenwu Energy Saving is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 219.00 in Shenwu Energy Saving on October 18, 2024 and sell it today you would earn a total of 172.00 from holding Shenwu Energy Saving or generate 78.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lander Sports Development vs. Shenwu Energy Saving
Performance |
| Timeline |
| Lander Sports Development |
| Shenwu Energy Saving |
Lander Sports and Shenwu Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lander Sports and Shenwu Energy
The main advantage of trading using opposite Lander Sports and Shenwu Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, Shenwu Energy 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 Shenwu Energy will offset losses from the drop in Shenwu Energy's long position.| Lander Sports vs. Xiamen Jihong Package | Lander Sports vs. Eastroc Beverage Group | Lander Sports vs. Great Sun Foods Co | Lander Sports vs. Hunan Investment Group |
| Shenwu Energy vs. Gem Year Industrial Co | Shenwu Energy vs. Lander Sports Development | Shenwu Energy vs. Guangdong Jingyi Metal | Shenwu Energy vs. Shenzhen AV Display Co |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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