Correlation Between China Securities and Gotion High
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By analyzing existing cross correlation between China Securities 800 and Gotion High tech, you can compare the effects of market volatilities on China Securities and Gotion High 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 China Securities with a short position of Gotion High. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Gotion High.
Diversification Opportunities for China Securities and Gotion High
0.98 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between China and Gotion is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Gotion High tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gotion High tech and China Securities 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 China Securities 800 are associated (or correlated) with Gotion High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gotion High tech has no effect on the direction of China Securities i.e., China Securities and Gotion High go up and down completely randomly.
Pair Corralation between China Securities and Gotion High
Assuming the 90 days trading horizon China Securities 800 is expected to generate 0.5 times more return on investment than Gotion High. However, China Securities 800 is 2.01 times less risky than Gotion High. It trades about 0.0 of its potential returns per unit of risk. Gotion High tech is currently generating about -0.01 per unit of risk. If you would invest 433,452 in China Securities 800 on August 28, 2024 and sell it today you would lose (18,979) from holding China Securities 800 or give up 4.38% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 99.79% |
| Values | Daily Returns |
China Securities 800 vs. Gotion High tech
Performance |
| Timeline |
China Securities and Gotion High Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Gotion High tech
Pair trading matchups for Gotion High
Pair Trading with China Securities and Gotion High
The main advantage of trading using opposite China Securities and Gotion High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Gotion High 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 Gotion High will offset losses from the drop in Gotion High's long position.| China Securities vs. Beijing Mainstreets Investment | China Securities vs. Dareway Software Co | China Securities vs. Shanghai Metersbonwe FashionAccessories | China Securities vs. Guangzhou Seagull Kitchen |
| Gotion High vs. Nuode Investment Co | Gotion High vs. Masterwork Machinery | Gotion High vs. Hunan Tyen Machinery | Gotion High vs. Metro Investment Development |
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 Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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