Correlation Between Shenwu Energy and Sublime China
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By analyzing existing cross correlation between Shenwu Energy Saving and Sublime China Information, you can compare the effects of market volatilities on Shenwu Energy and Sublime China 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 Shenwu Energy with a short position of Sublime China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenwu Energy and Sublime China.
Diversification Opportunities for Shenwu Energy and Sublime China
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Shenwu and Sublime is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Shenwu Energy Saving and Sublime China Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sublime China Information and Shenwu Energy 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 Shenwu Energy Saving are associated (or correlated) with Sublime China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sublime China Information has no effect on the direction of Shenwu Energy i.e., Shenwu Energy and Sublime China go up and down completely randomly.
Pair Corralation between Shenwu Energy and Sublime China
Assuming the 90 days trading horizon Shenwu Energy is expected to generate 70.72 times less return on investment than Sublime China. But when comparing it to its historical volatility, Shenwu Energy Saving is 1.29 times less risky than Sublime China. It trades about 0.0 of its potential returns per unit of risk. Sublime China Information is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 4,806 in Sublime China Information on October 11, 2024 and sell it today you would earn a total of 781.00 from holding Sublime China Information or generate 16.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenwu Energy Saving vs. Sublime China Information
Performance |
| Timeline |
| Shenwu Energy Saving |
| Sublime China Information |
Shenwu Energy and Sublime China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenwu Energy and Sublime China
The main advantage of trading using opposite Shenwu Energy and Sublime China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenwu Energy position performs unexpectedly, Sublime China 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 Sublime China will offset losses from the drop in Sublime China's long position.| Shenwu Energy vs. Maccura Biotechnology Co | Shenwu Energy vs. Mingchen Health Co | Shenwu Energy vs. Yunnan Jianzhijia Health Chain | Shenwu Energy vs. Meinian Onehealth Healthcare |
| Sublime China vs. Jinhui Liquor Co | Sublime China vs. Ningbo Ligong Online | Sublime China vs. Vats Liquor Chain | Sublime China vs. Shenwu Energy Saving |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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