Correlation Between China Securities and Maider Medical
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By analyzing existing cross correlation between China Securities 800 and Maider Medical Industry, you can compare the effects of market volatilities on China Securities and Maider Medical 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 Maider Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Maider Medical.
Diversification Opportunities for China Securities and Maider Medical
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between China and Maider is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Maider Medical Industry in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maider Medical Industry 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 Maider Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maider Medical Industry has no effect on the direction of China Securities i.e., China Securities and Maider Medical go up and down completely randomly.
Pair Corralation between China Securities and Maider Medical
Assuming the 90 days trading horizon China Securities 800 is expected to under-perform the Maider Medical. But the index apears to be less risky and, when comparing its historical volatility, China Securities 800 is 3.23 times less risky than Maider Medical. The index trades about 0.0 of its potential returns per unit of risk. The Maider Medical Industry is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 1,720 in Maider Medical Industry on September 7, 2024 and sell it today you would lose (415.00) from holding Maider Medical Industry or give up 24.13% 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. Maider Medical Industry
Performance |
| Timeline |
China Securities and Maider Medical Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Maider Medical Industry
Pair trading matchups for Maider Medical
Pair Trading with China Securities and Maider Medical
The main advantage of trading using opposite China Securities and Maider Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Maider Medical 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 Maider Medical will offset losses from the drop in Maider Medical's long position.| China Securities vs. Beijing Bashi Media | China Securities vs. JiShi Media Co | China Securities vs. Qilu Bank Co | China Securities vs. Hua Xia Bank |
| Maider Medical vs. Cultural Investment Holdings | Maider Medical vs. Gome Telecom Equipment | Maider Medical vs. Bus Online Co | Maider Medical vs. Holitech Technology Co |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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