Correlation Between China Securities and Sichuan Qiaoyuan
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By analyzing existing cross correlation between China Securities 800 and Sichuan Qiaoyuan Gas, you can compare the effects of market volatilities on China Securities and Sichuan Qiaoyuan 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 Sichuan Qiaoyuan. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Sichuan Qiaoyuan.
Diversification Opportunities for China Securities and Sichuan Qiaoyuan
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between China and Sichuan is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Sichuan Qiaoyuan Gas in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sichuan Qiaoyuan Gas 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 Sichuan Qiaoyuan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sichuan Qiaoyuan Gas has no effect on the direction of China Securities i.e., China Securities and Sichuan Qiaoyuan go up and down completely randomly.
Pair Corralation between China Securities and Sichuan Qiaoyuan
Assuming the 90 days trading horizon China Securities is expected to generate 2.03 times less return on investment than Sichuan Qiaoyuan. But when comparing it to its historical volatility, China Securities 800 is 1.78 times less risky than Sichuan Qiaoyuan. It trades about 0.04 of its potential returns per unit of risk. Sichuan Qiaoyuan Gas is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 2,655 in Sichuan Qiaoyuan Gas on November 5, 2024 and sell it today you would earn a total of 560.00 from holding Sichuan Qiaoyuan Gas or generate 21.09% 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. Sichuan Qiaoyuan Gas
Performance |
| Timeline |
China Securities and Sichuan Qiaoyuan Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Sichuan Qiaoyuan Gas
Pair trading matchups for Sichuan Qiaoyuan
Pair Trading with China Securities and Sichuan Qiaoyuan
The main advantage of trading using opposite China Securities and Sichuan Qiaoyuan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Sichuan Qiaoyuan 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 Sichuan Qiaoyuan will offset losses from the drop in Sichuan Qiaoyuan's long position.| China Securities vs. Eastroc Beverage Group | China Securities vs. Guangzhou Restaurants Group | China Securities vs. Quectel Wireless Solutions | China Securities vs. Bangyan Technology Co |
| Sichuan Qiaoyuan vs. CSSC Offshore Marine | Sichuan Qiaoyuan vs. Yan Tai Shuang | Sichuan Qiaoyuan vs. Shenyang Chemical Industry | Sichuan Qiaoyuan vs. Namchow Food Group |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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