Correlation Between China Securities and 37 Interactive
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By analyzing existing cross correlation between China Securities 800 and 37 Interactive Entertainment, you can compare the effects of market volatilities on China Securities and 37 Interactive 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 37 Interactive. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and 37 Interactive.
Diversification Opportunities for China Securities and 37 Interactive
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between China and 002555 is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and 37 Interactive Entertainment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 37 Interactive Enter 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 37 Interactive. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 37 Interactive Enter has no effect on the direction of China Securities i.e., China Securities and 37 Interactive go up and down completely randomly.
Pair Corralation between China Securities and 37 Interactive
Assuming the 90 days trading horizon China Securities 800 is expected to generate 0.46 times more return on investment than 37 Interactive. However, China Securities 800 is 2.16 times less risky than 37 Interactive. It trades about -0.07 of its potential returns per unit of risk. 37 Interactive Entertainment is currently generating about -0.05 per unit of risk. If you would invest 427,943 in China Securities 800 on August 27, 2024 and sell it today you would lose (10,391) from holding China Securities 800 or give up 2.43% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Securities 800 vs. 37 Interactive Entertainment
Performance |
| Timeline |
China Securities and 37 Interactive Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
37 Interactive Entertainment
Pair trading matchups for 37 Interactive
Pair Trading with China Securities and 37 Interactive
The main advantage of trading using opposite China Securities and 37 Interactive positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, 37 Interactive 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 37 Interactive will offset losses from the drop in 37 Interactive'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 |
| 37 Interactive vs. Zhengzhou Qianweiyangchu Food | 37 Interactive vs. Suzhou Weizhixiang Food | 37 Interactive vs. Nanjing Putian Telecommunications | 37 Interactive vs. Ligao Foods CoLtd |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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