Correlation Between Henan Shuanghui and Financial Street
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By analyzing existing cross correlation between Henan Shuanghui Investment and Financial Street Holdings, you can compare the effects of market volatilities on Henan Shuanghui and Financial Street 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 Henan Shuanghui with a short position of Financial Street. Check out your portfolio center. Please also check ongoing floating volatility patterns of Henan Shuanghui and Financial Street.
Diversification Opportunities for Henan Shuanghui and Financial Street
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Henan and Financial is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Henan Shuanghui Investment and Financial Street Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Financial Street Holdings and Henan Shuanghui 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 Henan Shuanghui Investment are associated (or correlated) with Financial Street. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Financial Street Holdings has no effect on the direction of Henan Shuanghui i.e., Henan Shuanghui and Financial Street go up and down completely randomly.
Pair Corralation between Henan Shuanghui and Financial Street
Assuming the 90 days trading horizon Henan Shuanghui Investment is expected to generate 0.47 times more return on investment than Financial Street. However, Henan Shuanghui Investment is 2.14 times less risky than Financial Street. It trades about 0.03 of its potential returns per unit of risk. Financial Street Holdings is currently generating about -0.03 per unit of risk. If you would invest 2,225 in Henan Shuanghui Investment on October 27, 2024 and sell it today you would earn a total of 318.00 from holding Henan Shuanghui Investment or generate 14.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Henan Shuanghui Investment vs. Financial Street Holdings
Performance |
| Timeline |
| Henan Shuanghui Inve |
| Financial Street Holdings |
Henan Shuanghui and Financial Street Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Henan Shuanghui and Financial Street
The main advantage of trading using opposite Henan Shuanghui and Financial Street positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Henan Shuanghui position performs unexpectedly, Financial Street 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 Financial Street will offset losses from the drop in Financial Street's long position.| Henan Shuanghui vs. Guangdong Silvere Sci | Henan Shuanghui vs. Pengxin International Mining | Henan Shuanghui vs. Uroica Mining Safety | Henan Shuanghui vs. Fujian Oriental Silver |
| Financial Street vs. HeNan Splendor Science | Financial Street vs. Ningbo Jintian Copper | Financial Street vs. Shenwu Energy Saving | Financial Street vs. Shanghai Yanpu Metal |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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