Correlation Between Beijing Mainstreets and Anshan Senyuan
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By analyzing existing cross correlation between Beijing Mainstreets Investment and Anshan Senyuan Road, you can compare the effects of market volatilities on Beijing Mainstreets and Anshan Senyuan 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 Beijing Mainstreets with a short position of Anshan Senyuan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Mainstreets and Anshan Senyuan.
Diversification Opportunities for Beijing Mainstreets and Anshan Senyuan
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Beijing and Anshan is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Mainstreets Investment and Anshan Senyuan Road in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anshan Senyuan Road and Beijing Mainstreets 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 Beijing Mainstreets Investment are associated (or correlated) with Anshan Senyuan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anshan Senyuan Road has no effect on the direction of Beijing Mainstreets i.e., Beijing Mainstreets and Anshan Senyuan go up and down completely randomly.
Pair Corralation between Beijing Mainstreets and Anshan Senyuan
Assuming the 90 days trading horizon Beijing Mainstreets Investment is expected to generate 1.16 times more return on investment than Anshan Senyuan. However, Beijing Mainstreets is 1.16 times more volatile than Anshan Senyuan Road. It trades about 0.0 of its potential returns per unit of risk. Anshan Senyuan Road is currently generating about -0.32 per unit of risk. If you would invest 247.00 in Beijing Mainstreets Investment on October 11, 2024 and sell it today you would lose (3.00) from holding Beijing Mainstreets Investment or give up 1.21% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Mainstreets Investment vs. Anshan Senyuan Road
Performance |
| Timeline |
| Beijing Mainstreets |
| Anshan Senyuan Road |
Beijing Mainstreets and Anshan Senyuan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Mainstreets and Anshan Senyuan
The main advantage of trading using opposite Beijing Mainstreets and Anshan Senyuan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Mainstreets position performs unexpectedly, Anshan Senyuan 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 Anshan Senyuan will offset losses from the drop in Anshan Senyuan's long position.| Beijing Mainstreets vs. Huasi Agricultural Development | Beijing Mainstreets vs. Tianshui Huatian Technology | Beijing Mainstreets vs. Qijing Machinery | Beijing Mainstreets vs. Guangzhou KDT Machinery |
| Anshan Senyuan vs. Beijing Mainstreets Investment | Anshan Senyuan vs. Ye Chiu Metal | Anshan Senyuan vs. Rising Nonferrous Metals | Anshan Senyuan vs. Guangdong Jingyi Metal |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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