Correlation Between China Securities and Haoxiangni Jujube
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By analyzing existing cross correlation between China Securities 800 and Haoxiangni Jujube Co, you can compare the effects of market volatilities on China Securities and Haoxiangni Jujube 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 Haoxiangni Jujube. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Haoxiangni Jujube.
Diversification Opportunities for China Securities and Haoxiangni Jujube
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between China and Haoxiangni is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Haoxiangni Jujube Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Haoxiangni Jujube 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 Haoxiangni Jujube. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Haoxiangni Jujube has no effect on the direction of China Securities i.e., China Securities and Haoxiangni Jujube go up and down completely randomly.
Pair Corralation between China Securities and Haoxiangni Jujube
Assuming the 90 days trading horizon China Securities 800 is expected to under-perform the Haoxiangni Jujube. But the index apears to be less risky and, when comparing its historical volatility, China Securities 800 is 5.69 times less risky than Haoxiangni Jujube. The index trades about -0.28 of its potential returns per unit of risk. The Haoxiangni Jujube Co is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 832.00 in Haoxiangni Jujube Co on October 11, 2024 and sell it today you would lose (60.00) from holding Haoxiangni Jujube Co or give up 7.21% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Securities 800 vs. Haoxiangni Jujube Co
Performance |
| Timeline |
China Securities and Haoxiangni Jujube Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Haoxiangni Jujube Co
Pair trading matchups for Haoxiangni Jujube
Pair Trading with China Securities and Haoxiangni Jujube
The main advantage of trading using opposite China Securities and Haoxiangni Jujube positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Haoxiangni Jujube 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 Haoxiangni Jujube will offset losses from the drop in Haoxiangni Jujube's long position.| China Securities vs. Huatian Hotel Group | China Securities vs. Keeson Technology Corp | China Securities vs. Jiujiang Shanshui Technology | China Securities vs. Smartgiant Technology Co |
| Haoxiangni Jujube vs. SUNSEA Telecommunications Co | Haoxiangni Jujube vs. Fibocom Wireless | Haoxiangni Jujube vs. Fujian Longzhou Transportation | Haoxiangni Jujube vs. Anhui Jianghuai Automobile |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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