Correlation Between China Securities and Qingdao Port
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By analyzing existing cross correlation between China Securities 800 and Qingdao Port International, you can compare the effects of market volatilities on China Securities and Qingdao Port 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 Qingdao Port. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Qingdao Port.
Diversification Opportunities for China Securities and Qingdao Port
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between China and Qingdao is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Qingdao Port International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qingdao Port Interna 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 Qingdao Port. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qingdao Port Interna has no effect on the direction of China Securities i.e., China Securities and Qingdao Port go up and down completely randomly.
Pair Corralation between China Securities and Qingdao Port
Assuming the 90 days trading horizon China Securities 800 is expected to generate 0.62 times more return on investment than Qingdao Port. However, China Securities 800 is 1.62 times less risky than Qingdao Port. It trades about -0.1 of its potential returns per unit of risk. Qingdao Port International is currently generating about -0.16 per unit of risk. If you would invest 426,789 in China Securities 800 on January 26, 2025 and sell it today you would lose (17,845) from holding China Securities 800 or give up 4.18% 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. Qingdao Port International
Performance |
| Timeline |
China Securities and Qingdao Port Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Qingdao Port International
Pair trading matchups for Qingdao Port
Pair Trading with China Securities and Qingdao Port
The main advantage of trading using opposite China Securities and Qingdao Port positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Qingdao Port 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 Qingdao Port will offset losses from the drop in Qingdao Port's long position.| China Securities vs. Marssenger Kitchenware Co | China Securities vs. Jiangsu Hoperun Software | China Securities vs. Bus Online Co | China Securities vs. Gansu Huangtai Wine marketing |
| Qingdao Port vs. Xinjiang Beixin RoadBridge | Qingdao Port vs. Shuhua Sports Co | Qingdao Port vs. Shanghai Broadband Technology | Qingdao Port vs. Shenzhen Urban Transport |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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