Correlation Between Xiwang Foodstuffs and Poly Real
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By analyzing existing cross correlation between Xiwang Foodstuffs Co and Poly Real Estate, you can compare the effects of market volatilities on Xiwang Foodstuffs and Poly Real 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 Xiwang Foodstuffs with a short position of Poly Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xiwang Foodstuffs and Poly Real.
Diversification Opportunities for Xiwang Foodstuffs and Poly Real
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Xiwang and Poly is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Xiwang Foodstuffs Co and Poly Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Poly Real Estate and Xiwang Foodstuffs 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 Xiwang Foodstuffs Co are associated (or correlated) with Poly Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poly Real Estate has no effect on the direction of Xiwang Foodstuffs i.e., Xiwang Foodstuffs and Poly Real go up and down completely randomly.
Pair Corralation between Xiwang Foodstuffs and Poly Real
Assuming the 90 days trading horizon Xiwang Foodstuffs Co is expected to generate 3.06 times more return on investment than Poly Real. However, Xiwang Foodstuffs is 3.06 times more volatile than Poly Real Estate. It trades about -0.01 of its potential returns per unit of risk. Poly Real Estate is currently generating about -0.27 per unit of risk. If you would invest 464.00 in Xiwang Foodstuffs Co on September 12, 2024 and sell it today you would lose (12.00) from holding Xiwang Foodstuffs Co or give up 2.59% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xiwang Foodstuffs Co vs. Poly Real Estate
Performance |
| Timeline |
| Xiwang Foodstuffs |
| Poly Real Estate |
Xiwang Foodstuffs and Poly Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xiwang Foodstuffs and Poly Real
The main advantage of trading using opposite Xiwang Foodstuffs and Poly Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xiwang Foodstuffs position performs unexpectedly, Poly Real 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 Poly Real will offset losses from the drop in Poly Real's long position.| Xiwang Foodstuffs vs. State Grid InformationCommunication | Xiwang Foodstuffs vs. StarPower Semiconductor | Xiwang Foodstuffs vs. Eastern Air Logistics | Xiwang Foodstuffs vs. Shenzhen Kexin Communication |
| Poly Real vs. Guangzhou Ruoyuchen Information | Poly Real vs. BTG Hotels Group | Poly Real vs. Shenzhen SDG Information | Poly Real vs. Tongding Interconnection Information |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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