Correlation Between Henan Shuanghui and Camel Group
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By analyzing existing cross correlation between Henan Shuanghui Investment and Camel Group Co, you can compare the effects of market volatilities on Henan Shuanghui and Camel Group 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 Camel Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Henan Shuanghui and Camel Group.
Diversification Opportunities for Henan Shuanghui and Camel Group
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Henan and Camel is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Henan Shuanghui Investment and Camel Group Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Camel 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 Camel Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Camel Group has no effect on the direction of Henan Shuanghui i.e., Henan Shuanghui and Camel Group go up and down completely randomly.
Pair Corralation between Henan Shuanghui and Camel Group
Assuming the 90 days trading horizon Henan Shuanghui is expected to generate 7.43 times less return on investment than Camel Group. But when comparing it to its historical volatility, Henan Shuanghui Investment is 1.3 times less risky than Camel Group. It trades about 0.0 of its potential returns per unit of risk. Camel Group Co is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 797.00 in Camel Group Co on September 2, 2024 and sell it today you would earn a total of 72.00 from holding Camel Group Co or generate 9.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Henan Shuanghui Investment vs. Camel Group Co
Performance |
| Timeline |
| Henan Shuanghui Inve |
| Camel Group |
Henan Shuanghui and Camel Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Henan Shuanghui and Camel Group
The main advantage of trading using opposite Henan Shuanghui and Camel Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Henan Shuanghui position performs unexpectedly, Camel Group 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 Camel Group will offset losses from the drop in Camel Group's long position.| Henan Shuanghui vs. Northking Information Technology | Henan Shuanghui vs. UE Furniture Co | Henan Shuanghui vs. Holitech Technology Co | Henan Shuanghui vs. Kuangda Technology Group |
| Camel Group vs. Time Publishing and | Camel Group vs. Shandong Publishing Media | Camel Group vs. Qtone Education Group | Camel Group vs. Shanghai Action Education |
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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