Correlation Between China Securities and Zhuzhou Kibing
Specify exactly 2 symbols:
By analyzing existing cross correlation between China Securities 800 and Zhuzhou Kibing Group, you can compare the effects of market volatilities on China Securities and Zhuzhou Kibing 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 Zhuzhou Kibing. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Zhuzhou Kibing.
Diversification Opportunities for China Securities and Zhuzhou Kibing
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between China and Zhuzhou is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Zhuzhou Kibing Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhuzhou Kibing Group 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 Zhuzhou Kibing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhuzhou Kibing Group has no effect on the direction of China Securities i.e., China Securities and Zhuzhou Kibing go up and down completely randomly.
Pair Corralation between China Securities and Zhuzhou Kibing
Assuming the 90 days trading horizon China Securities 800 is expected to generate 0.68 times more return on investment than Zhuzhou Kibing. However, China Securities 800 is 1.47 times less risky than Zhuzhou Kibing. It trades about -0.04 of its potential returns per unit of risk. Zhuzhou Kibing Group is currently generating about -0.33 per unit of risk. If you would invest 427,943 in China Securities 800 on August 29, 2024 and sell it today you would lose (6,053) from holding China Securities 800 or give up 1.41% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Securities 800 vs. Zhuzhou Kibing Group
Performance |
| Timeline |
China Securities and Zhuzhou Kibing Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Zhuzhou Kibing Group
Pair trading matchups for Zhuzhou Kibing
Pair Trading with China Securities and Zhuzhou Kibing
The main advantage of trading using opposite China Securities and Zhuzhou Kibing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Zhuzhou Kibing 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 Zhuzhou Kibing will offset losses from the drop in Zhuzhou Kibing's long position.| China Securities vs. Tibet Huayu Mining | China Securities vs. Keeson Technology Corp | China Securities vs. OBiO Technology Corp | China Securities vs. ROPEOK Technology Group |
| Zhuzhou Kibing vs. Guangzhou Haige Communications | Zhuzhou Kibing vs. Eastern Communications Co | Zhuzhou Kibing vs. Sunwave Communications Co | Zhuzhou Kibing vs. Shenzhen Kexin Communication |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Other Complementary Tools
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| CEOs Directory Screen CEOs from public companies around the world |