Correlation Between China Securities and Accelink Technologies
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By analyzing existing cross correlation between China Securities 800 and Accelink Technologies Co, you can compare the effects of market volatilities on China Securities and Accelink Technologies 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 Accelink Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Accelink Technologies.
Diversification Opportunities for China Securities and Accelink Technologies
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between China and Accelink is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Accelink Technologies Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Accelink Technologies 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 Accelink Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Accelink Technologies has no effect on the direction of China Securities i.e., China Securities and Accelink Technologies go up and down completely randomly.
Pair Corralation between China Securities and Accelink Technologies
Assuming the 90 days trading horizon China Securities is expected to generate 3.6 times less return on investment than Accelink Technologies. But when comparing it to its historical volatility, China Securities 800 is 2.18 times less risky than Accelink Technologies. It trades about 0.08 of its potential returns per unit of risk. Accelink Technologies Co is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 2,954 in Accelink Technologies Co on November 3, 2024 and sell it today you would earn a total of 1,887 from holding Accelink Technologies Co or generate 63.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Securities 800 vs. Accelink Technologies Co
Performance |
| Timeline |
China Securities and Accelink Technologies Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Accelink Technologies Co
Pair trading matchups for Accelink Technologies
Pair Trading with China Securities and Accelink Technologies
The main advantage of trading using opposite China Securities and Accelink Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Accelink Technologies 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 Accelink Technologies will offset losses from the drop in Accelink Technologies' long position.| China Securities vs. China Securities 500 | China Securities vs. Shanghai SE A | China Securities vs. SZSE Composite | China Securities vs. SSE 180 Index |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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