Correlation Between Beijing Yanjing and Huaxia Fund
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By analyzing existing cross correlation between Beijing Yanjing Brewery and Huaxia Fund Management, you can compare the effects of market volatilities on Beijing Yanjing 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 Beijing Yanjing with a short position of Huaxia Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Yanjing and Huaxia Fund.
Diversification Opportunities for Beijing Yanjing and Huaxia Fund
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Beijing and Huaxia is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Yanjing Brewery 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 Beijing Yanjing 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 Yanjing Brewery 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 Beijing Yanjing i.e., Beijing Yanjing and Huaxia Fund go up and down completely randomly.
Pair Corralation between Beijing Yanjing and Huaxia Fund
Assuming the 90 days trading horizon Beijing Yanjing Brewery is expected to generate 1.24 times more return on investment than Huaxia Fund. However, Beijing Yanjing is 1.24 times more volatile than Huaxia Fund Management. It trades about 0.3 of its potential returns per unit of risk. Huaxia Fund Management is currently generating about 0.34 per unit of risk. If you would invest 1,181 in Beijing Yanjing Brewery on January 5, 2025 and sell it today you would earn a total of 99.00 from holding Beijing Yanjing Brewery or generate 8.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Yanjing Brewery vs. Huaxia Fund Management
Performance |
| Timeline |
| Beijing Yanjing Brewery |
| Huaxia Fund Management |
Beijing Yanjing and Huaxia Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Yanjing and Huaxia Fund
The main advantage of trading using opposite Beijing Yanjing and Huaxia Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Yanjing 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.| Beijing Yanjing vs. Ye Chiu Metal | Beijing Yanjing vs. Uroica Mining Safety | Beijing Yanjing vs. Shengda Mining Co | Beijing Yanjing vs. Zhejiang Yongjin Metal |
| Huaxia Fund vs. Contec Medical Systems | Huaxia Fund vs. Ningbo David Medical | Huaxia Fund vs. Shenzhen Glory Medical | Huaxia Fund vs. Maxvision Technology Corp |
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 CEOs Directory module to screen CEOs from public companies around the world.
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