Correlation Between Vanfund Urban and Haoxiangni Jujube
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By analyzing existing cross correlation between Vanfund Urban Investment and Haoxiangni Jujube Co, you can compare the effects of market volatilities on Vanfund Urban and Haoxiangni Jujube 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 Vanfund Urban with a short position of Haoxiangni Jujube. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vanfund Urban and Haoxiangni Jujube.
Diversification Opportunities for Vanfund Urban and Haoxiangni Jujube
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Vanfund and Haoxiangni is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Vanfund Urban Investment and Haoxiangni Jujube Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Haoxiangni Jujube and Vanfund Urban 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 Vanfund Urban Investment are associated (or correlated) with Haoxiangni Jujube. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Haoxiangni Jujube has no effect on the direction of Vanfund Urban i.e., Vanfund Urban and Haoxiangni Jujube go up and down completely randomly.
Pair Corralation between Vanfund Urban and Haoxiangni Jujube
Assuming the 90 days trading horizon Vanfund Urban Investment is expected to under-perform the Haoxiangni Jujube. But the stock apears to be less risky and, when comparing its historical volatility, Vanfund Urban Investment is 2.73 times less risky than Haoxiangni Jujube. The stock trades about -0.01 of its potential returns per unit of risk. The Haoxiangni Jujube Co is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest 794.00 in Haoxiangni Jujube Co on October 26, 2024 and sell it today you would earn a total of 295.00 from holding Haoxiangni Jujube Co or generate 37.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vanfund Urban Investment vs. Haoxiangni Jujube Co
Performance |
| Timeline |
| Vanfund Urban Investment |
| Haoxiangni Jujube |
Vanfund Urban and Haoxiangni Jujube Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vanfund Urban and Haoxiangni Jujube
The main advantage of trading using opposite Vanfund Urban and Haoxiangni Jujube positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vanfund Urban position performs unexpectedly, Haoxiangni Jujube 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 Haoxiangni Jujube will offset losses from the drop in Haoxiangni Jujube's long position.| Vanfund Urban vs. Industrial and Commercial | Vanfund Urban vs. Kweichow Moutai Co | Vanfund Urban vs. Agricultural Bank of | Vanfund Urban vs. China Mobile Limited |
| Haoxiangni Jujube vs. Chengdu Xingrong Investment | Haoxiangni Jujube vs. Jiangsu Hoperun Software | Haoxiangni Jujube vs. Luyin Investment Group | Haoxiangni Jujube vs. Vanfund Urban Investment |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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