Correlation Between Shenyang Huitian and Huaxia Fund
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By analyzing existing cross correlation between Shenyang Huitian Thermal and Huaxia Fund Management, you can compare the effects of market volatilities on Shenyang Huitian and Huaxia Fund 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 Shenyang Huitian with a short position of Huaxia Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenyang Huitian and Huaxia Fund.
Diversification Opportunities for Shenyang Huitian and Huaxia Fund
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Shenyang and Huaxia is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Shenyang Huitian Thermal and Huaxia Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huaxia Fund Management and Shenyang Huitian 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 Shenyang Huitian Thermal are associated (or correlated) with Huaxia Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huaxia Fund Management has no effect on the direction of Shenyang Huitian i.e., Shenyang Huitian and Huaxia Fund go up and down completely randomly.
Pair Corralation between Shenyang Huitian and Huaxia Fund
Assuming the 90 days trading horizon Shenyang Huitian is expected to generate 1.04 times less return on investment than Huaxia Fund. In addition to that, Shenyang Huitian is 2.81 times more volatile than Huaxia Fund Management. It trades about 0.02 of its total potential returns per unit of risk. Huaxia Fund Management is currently generating about 0.05 per unit of volatility. If you would invest 246.00 in Huaxia Fund Management on October 11, 2024 and sell it today you would earn a total of 54.00 from holding Huaxia Fund Management or generate 21.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.79% |
| Values | Daily Returns |
Shenyang Huitian Thermal vs. Huaxia Fund Management
Performance |
| Timeline |
| Shenyang Huitian Thermal |
| Huaxia Fund Management |
Shenyang Huitian and Huaxia Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenyang Huitian and Huaxia Fund
The main advantage of trading using opposite Shenyang Huitian and Huaxia Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenyang Huitian position performs unexpectedly, Huaxia Fund 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 Huaxia Fund will offset losses from the drop in Huaxia Fund's long position.| Shenyang Huitian vs. Ping An Insurance | Shenyang Huitian vs. Bank of Suzhou | Shenyang Huitian vs. Xiamen Bank Co | Shenyang Huitian vs. Digiwin Software Co |
| Huaxia Fund vs. Ye Chiu Metal | Huaxia Fund vs. Shenyang Huitian Thermal | Huaxia Fund vs. Shenzhen Bioeasy Biotechnology | Huaxia Fund vs. Chengtun Mining Group |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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