Correlation Between Shenwu Energy and Huaxia Fund
Specify exactly 2 symbols:
By analyzing existing cross correlation between Shenwu Energy Saving and Huaxia Fund Management, you can compare the effects of market volatilities on Shenwu Energy 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 Shenwu Energy with a short position of Huaxia Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenwu Energy and Huaxia Fund.
Diversification Opportunities for Shenwu Energy and Huaxia Fund
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Shenwu and Huaxia is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Shenwu Energy Saving 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 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 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 Shenwu Energy i.e., Shenwu Energy and Huaxia Fund go up and down completely randomly.
Pair Corralation between Shenwu Energy and Huaxia Fund
Assuming the 90 days trading horizon Shenwu Energy Saving is expected to under-perform the Huaxia Fund. In addition to that, Shenwu Energy is 3.26 times more volatile than Huaxia Fund Management. It trades about -0.05 of its total potential returns per unit of risk. Huaxia Fund Management is currently generating about 0.34 per unit of volatility. If you would invest 276.00 in Huaxia Fund Management on October 12, 2024 and sell it today you would earn a total of 31.00 from holding Huaxia Fund Management or generate 11.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenwu Energy Saving vs. Huaxia Fund Management
Performance |
| Timeline |
| Shenwu Energy Saving |
| Huaxia Fund Management |
Shenwu Energy and Huaxia Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenwu Energy and Huaxia Fund
The main advantage of trading using opposite Shenwu Energy and Huaxia Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenwu Energy 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.| Shenwu Energy vs. Peoples Insurance of | Shenwu Energy vs. Eastern Air Logistics | Shenwu Energy vs. Heilongjiang Publishing Media | Shenwu Energy vs. Offcn Education Technology |
| Huaxia Fund vs. Bank of Suzhou | Huaxia Fund vs. Shenwu Energy Saving | Huaxia Fund vs. Qilu Bank Co | Huaxia Fund vs. Shaanxi Construction Machinery |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals |