Correlation Between China Securities and Changshu Tianyin
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By analyzing existing cross correlation between China Securities 800 and Changshu Tianyin Electromechan, you can compare the effects of market volatilities on China Securities and Changshu Tianyin 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 Changshu Tianyin. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Changshu Tianyin.
Diversification Opportunities for China Securities and Changshu Tianyin
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between China and Changshu is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Changshu Tianyin Electromechan in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Changshu Tianyin Ele 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 Changshu Tianyin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Changshu Tianyin Ele has no effect on the direction of China Securities i.e., China Securities and Changshu Tianyin go up and down completely randomly.
Pair Corralation between China Securities and Changshu Tianyin
Assuming the 90 days trading horizon China Securities is expected to generate 267.55 times less return on investment than Changshu Tianyin. But when comparing it to its historical volatility, China Securities 800 is 3.76 times less risky than Changshu Tianyin. It trades about 0.0 of its potential returns per unit of risk. Changshu Tianyin Electromechan is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 782.00 in Changshu Tianyin Electromechan on September 3, 2024 and sell it today you would earn a total of 1,141 from holding Changshu Tianyin Electromechan or generate 145.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Securities 800 vs. Changshu Tianyin Electromechan
Performance |
| Timeline |
China Securities and Changshu Tianyin Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Changshu Tianyin Electromechan
Pair trading matchups for Changshu Tianyin
Pair Trading with China Securities and Changshu Tianyin
The main advantage of trading using opposite China Securities and Changshu Tianyin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Changshu Tianyin 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 Changshu Tianyin will offset losses from the drop in Changshu Tianyin's long position.| China Securities vs. Guilin Seamild Foods | China Securities vs. HaiXin Foods Co | China Securities vs. Zhejiang Publishing Media | China Securities vs. Eastroc Beverage Group |
| Changshu Tianyin vs. Cultural Investment Holdings | Changshu Tianyin vs. Gome Telecom Equipment | Changshu Tianyin vs. Bus Online Co | Changshu Tianyin vs. Holitech Technology Co |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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