Correlation Between Vontron Technology and Citic Guoan
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By analyzing existing cross correlation between Vontron Technology Co and Citic Guoan Wine, you can compare the effects of market volatilities on Vontron Technology and Citic Guoan 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 Vontron Technology with a short position of Citic Guoan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vontron Technology and Citic Guoan.
Diversification Opportunities for Vontron Technology and Citic Guoan
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Vontron and Citic is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Vontron Technology Co and Citic Guoan Wine in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citic Guoan Wine and Vontron Technology 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 Vontron Technology Co are associated (or correlated) with Citic Guoan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Citic Guoan Wine has no effect on the direction of Vontron Technology i.e., Vontron Technology and Citic Guoan go up and down completely randomly.
Pair Corralation between Vontron Technology and Citic Guoan
Assuming the 90 days trading horizon Vontron Technology Co is expected to generate 0.79 times more return on investment than Citic Guoan. However, Vontron Technology Co is 1.27 times less risky than Citic Guoan. It trades about 0.08 of its potential returns per unit of risk. Citic Guoan Wine is currently generating about 0.02 per unit of risk. If you would invest 720.00 in Vontron Technology Co on November 3, 2024 and sell it today you would earn a total of 133.00 from holding Vontron Technology Co or generate 18.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vontron Technology Co vs. Citic Guoan Wine
Performance |
| Timeline |
| Vontron Technology |
| Citic Guoan Wine |
Vontron Technology and Citic Guoan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vontron Technology and Citic Guoan
The main advantage of trading using opposite Vontron Technology and Citic Guoan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vontron Technology position performs unexpectedly, Citic Guoan 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 Citic Guoan will offset losses from the drop in Citic Guoan's long position.| Vontron Technology vs. Peoples Insurance of | Vontron Technology vs. COL Digital Publishing | Vontron Technology vs. MayAir Technology Co | Vontron Technology vs. Zhejiang Publishing Media |
| Citic Guoan vs. Ningbo Tip Rubber | Citic Guoan vs. Bohai Leasing Co | Citic Guoan vs. Jilin OLED Material | Citic Guoan vs. Sunny Loan Top |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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