Correlation Between China Securities and Giantec Semiconductor
Specify exactly 2 symbols:
By analyzing existing cross correlation between China Securities 800 and Giantec Semiconductor Corp, you can compare the effects of market volatilities on China Securities and Giantec Semiconductor 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 Giantec Semiconductor. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Giantec Semiconductor.
Diversification Opportunities for China Securities and Giantec Semiconductor
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between China and Giantec is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Giantec Semiconductor Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Giantec Semiconductor 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 Giantec Semiconductor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Giantec Semiconductor has no effect on the direction of China Securities i.e., China Securities and Giantec Semiconductor go up and down completely randomly.
Pair Corralation between China Securities and Giantec Semiconductor
Assuming the 90 days trading horizon China Securities 800 is expected to under-perform the Giantec Semiconductor. But the index apears to be less risky and, when comparing its historical volatility, China Securities 800 is 4.46 times less risky than Giantec Semiconductor. The index trades about -0.29 of its potential returns per unit of risk. The Giantec Semiconductor Corp is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 6,107 in Giantec Semiconductor Corp on October 12, 2024 and sell it today you would earn a total of 547.00 from holding Giantec Semiconductor Corp or generate 8.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Securities 800 vs. Giantec Semiconductor Corp
Performance |
| Timeline |
China Securities and Giantec Semiconductor Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Giantec Semiconductor Corp
Pair trading matchups for Giantec Semiconductor
Pair Trading with China Securities and Giantec Semiconductor
The main advantage of trading using opposite China Securities and Giantec Semiconductor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Giantec Semiconductor 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 Giantec Semiconductor will offset losses from the drop in Giantec Semiconductor's long position.| China Securities vs. Huatian Hotel Group | China Securities vs. Keeson Technology Corp | China Securities vs. Jiujiang Shanshui Technology | China Securities vs. Smartgiant Technology Co |
| Giantec Semiconductor vs. Ligao Foods CoLtd | Giantec Semiconductor vs. Great Sun Foods Co | Giantec Semiconductor vs. Beijing Sanyuan Foods | Giantec Semiconductor vs. HeBei Jinniu Chemical |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
Other Complementary Tools
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities |