Correlation Between 5I5j Holding and Beken Corp
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By analyzing existing cross correlation between 5I5j Holding Group and Beken Corp, you can compare the effects of market volatilities on 5I5j Holding and Beken Corp 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 5I5j Holding with a short position of Beken Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of 5I5j Holding and Beken Corp.
Diversification Opportunities for 5I5j Holding and Beken Corp
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between 5I5j and Beken is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding 5I5j Holding Group and Beken Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beken Corp and 5I5j Holding 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 5I5j Holding Group are associated (or correlated) with Beken Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beken Corp has no effect on the direction of 5I5j Holding i.e., 5I5j Holding and Beken Corp go up and down completely randomly.
Pair Corralation between 5I5j Holding and Beken Corp
Assuming the 90 days trading horizon 5I5j Holding Group is expected to generate 1.23 times more return on investment than Beken Corp. However, 5I5j Holding is 1.23 times more volatile than Beken Corp. It trades about 0.03 of its potential returns per unit of risk. Beken Corp is currently generating about 0.02 per unit of risk. If you would invest 266.00 in 5I5j Holding Group on September 26, 2024 and sell it today you would earn a total of 62.00 from holding 5I5j Holding Group or generate 23.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
5I5j Holding Group vs. Beken Corp
Performance |
| Timeline |
| 5I5j Holding Group |
| Beken Corp |
5I5j Holding and Beken Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 5I5j Holding and Beken Corp
The main advantage of trading using opposite 5I5j Holding and Beken Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 5I5j Holding position performs unexpectedly, Beken Corp 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 Beken Corp will offset losses from the drop in Beken Corp's long position.| 5I5j Holding vs. Aofu Environmental Technology | 5I5j Holding vs. Penyao Environmental Protection | 5I5j Holding vs. Eit Environmental Development | 5I5j Holding vs. BTG Hotels Group |
| Beken Corp vs. Industrial and Commercial | Beken Corp vs. China Construction Bank | Beken Corp vs. Agricultural Bank of | Beken Corp vs. Bank of China |
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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