Correlation Between China Securities and Cinda Securities
Specify exactly 2 symbols:
By analyzing existing cross correlation between China Securities 800 and Cinda Securities Co, you can compare the effects of market volatilities on China Securities and Cinda Securities 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 Cinda Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Cinda Securities.
Diversification Opportunities for China Securities and Cinda Securities
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between China and Cinda is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Cinda Securities Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cinda Securities 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 Cinda Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cinda Securities has no effect on the direction of China Securities i.e., China Securities and Cinda Securities go up and down completely randomly.
Pair Corralation between China Securities and Cinda Securities
Assuming the 90 days trading horizon China Securities 800 is expected to generate 0.58 times more return on investment than Cinda Securities. However, China Securities 800 is 1.72 times less risky than Cinda Securities. It trades about 0.05 of its potential returns per unit of risk. Cinda Securities Co is currently generating about 0.02 per unit of risk. If you would invest 386,430 in China Securities 800 on September 1, 2024 and sell it today you would earn a total of 37,106 from holding China Securities 800 or generate 9.6% 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. Cinda Securities Co
Performance |
| Timeline |
China Securities and Cinda Securities Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Cinda Securities Co
Pair trading matchups for Cinda Securities
Pair Trading with China Securities and Cinda Securities
The main advantage of trading using opposite China Securities and Cinda Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Cinda Securities 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 Cinda Securities will offset losses from the drop in Cinda Securities' 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 |
| Cinda Securities vs. BeiGene | Cinda Securities vs. Kweichow Moutai Co | Cinda Securities vs. Beijing Roborock Technology | Cinda Securities vs. G bits Network Technology |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency |