Correlation Between China Securities and Xi An
Specify exactly 2 symbols:
By analyzing existing cross correlation between China Securities 800 and Xi An Triangle, you can compare the effects of market volatilities on China Securities and Xi An 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 Xi An. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Xi An.
Diversification Opportunities for China Securities and Xi An
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between China and 300775 is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Xi An Triangle in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xi An Triangle 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 Xi An. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xi An Triangle has no effect on the direction of China Securities i.e., China Securities and Xi An go up and down completely randomly.
Pair Corralation between China Securities and Xi An
Assuming the 90 days trading horizon China Securities 800 is expected to generate 0.47 times more return on investment than Xi An. However, China Securities 800 is 2.13 times less risky than Xi An. It trades about 0.01 of its potential returns per unit of risk. Xi An Triangle is currently generating about -0.09 per unit of risk. If you would invest 422,415 in China Securities 800 on September 1, 2024 and sell it today you would earn a total of 1,121 from holding China Securities 800 or generate 0.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Securities 800 vs. Xi An Triangle
Performance |
| Timeline |
China Securities and Xi An Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Xi An Triangle
Pair trading matchups for Xi An
Pair Trading with China Securities and Xi An
The main advantage of trading using opposite China Securities and Xi An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Xi An 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 Xi An will offset losses from the drop in Xi An's long position.| China Securities vs. Everjoy Health Group | China Securities vs. Fuzhou Rockchip Electronics | China Securities vs. Hangzhou Prevail Optoelectronic | China Securities vs. Aurora Optoelectronics Co |
| Xi An vs. Fujian Newland Computer | Xi An vs. CSSC Offshore Marine | Xi An vs. Xiangyang Automobile Bearing | Xi An vs. Ningbo Fangzheng 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 Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities |