Correlation Between Henan Shuanghui and BOE Technology
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By analyzing existing cross correlation between Henan Shuanghui Investment and BOE Technology Group, you can compare the effects of market volatilities on Henan Shuanghui and BOE Technology 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 BOE Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Henan Shuanghui and BOE Technology.
Diversification Opportunities for Henan Shuanghui and BOE Technology
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Henan and BOE is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Henan Shuanghui Investment and BOE Technology Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BOE Technology Group 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 BOE Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BOE Technology Group has no effect on the direction of Henan Shuanghui i.e., Henan Shuanghui and BOE Technology go up and down completely randomly.
Pair Corralation between Henan Shuanghui and BOE Technology
If you would invest 2,261 in Henan Shuanghui Investment on August 31, 2024 and sell it today you would earn a total of 169.00 from holding Henan Shuanghui Investment or generate 7.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Henan Shuanghui Investment vs. BOE Technology Group
Performance |
| Timeline |
| Henan Shuanghui Inve |
| BOE Technology Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
Henan Shuanghui and BOE Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Henan Shuanghui and BOE Technology
The main advantage of trading using opposite Henan Shuanghui and BOE Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Henan Shuanghui position performs unexpectedly, BOE Technology 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 BOE Technology will offset losses from the drop in BOE Technology's long position.| Henan Shuanghui vs. Lutian Machinery Co | Henan Shuanghui vs. PetroChina Co Ltd | Henan Shuanghui vs. Bank of China | Henan Shuanghui vs. Gansu Jiu Steel |
| BOE Technology vs. Anhui Jianghuai Automobile | BOE Technology vs. Sinomach Automobile Co | BOE Technology vs. Guangdong Shenglu Telecommunication | BOE Technology vs. Ping An Insurance |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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