Correlation Between Xiwang Foodstuffs and China Publishing
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By analyzing existing cross correlation between Xiwang Foodstuffs Co and China Publishing Media, you can compare the effects of market volatilities on Xiwang Foodstuffs and China Publishing 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 China Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xiwang Foodstuffs and China Publishing.
Diversification Opportunities for Xiwang Foodstuffs and China Publishing
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Xiwang and China is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Xiwang Foodstuffs Co and China Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Publishing Media 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 China Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Publishing Media has no effect on the direction of Xiwang Foodstuffs i.e., Xiwang Foodstuffs and China Publishing go up and down completely randomly.
Pair Corralation between Xiwang Foodstuffs and China Publishing
If you would invest 678.00 in China Publishing Media on November 5, 2024 and sell it today you would earn a total of 18.00 from holding China Publishing Media or generate 2.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.88% |
| Values | Daily Returns |
Xiwang Foodstuffs Co vs. China Publishing Media
Performance |
| Timeline |
| Xiwang Foodstuffs |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| China Publishing Media |
Xiwang Foodstuffs and China Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xiwang Foodstuffs and China Publishing
The main advantage of trading using opposite Xiwang Foodstuffs and China Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xiwang Foodstuffs position performs unexpectedly, China Publishing 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 China Publishing will offset losses from the drop in China Publishing's long position.| Xiwang Foodstuffs vs. Xiamen Bank Co | Xiwang Foodstuffs vs. Western Metal Materials | Xiwang Foodstuffs vs. Shanghai Yanpu Metal | Xiwang Foodstuffs vs. Ping An Insurance |
| China Publishing vs. Jinling Hotel Corp | China Publishing vs. Hainan Mining Co | China Publishing vs. Shengda Mining Co | China Publishing vs. Guocheng Mining 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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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