Correlation Between Unisplendour Corp and SSAW Hotels
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By analyzing existing cross correlation between Unisplendour Corp and SSAW Hotels Resorts, you can compare the effects of market volatilities on Unisplendour Corp and SSAW Hotels 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 Unisplendour Corp with a short position of SSAW Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Unisplendour Corp and SSAW Hotels.
Diversification Opportunities for Unisplendour Corp and SSAW Hotels
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Unisplendour and SSAW is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Unisplendour Corp and SSAW Hotels Resorts in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SSAW Hotels Resorts and Unisplendour Corp 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 Unisplendour Corp are associated (or correlated) with SSAW Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SSAW Hotels Resorts has no effect on the direction of Unisplendour Corp i.e., Unisplendour Corp and SSAW Hotels go up and down completely randomly.
Pair Corralation between Unisplendour Corp and SSAW Hotels
Assuming the 90 days trading horizon Unisplendour Corp is expected to generate 0.8 times more return on investment than SSAW Hotels. However, Unisplendour Corp is 1.24 times less risky than SSAW Hotels. It trades about 0.01 of its potential returns per unit of risk. SSAW Hotels Resorts is currently generating about -0.03 per unit of risk. If you would invest 2,782 in Unisplendour Corp on November 1, 2024 and sell it today you would lose (264.00) from holding Unisplendour Corp or give up 9.49% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Unisplendour Corp vs. SSAW Hotels Resorts
Performance |
| Timeline |
| Unisplendour Corp |
| SSAW Hotels Resorts |
Unisplendour Corp and SSAW Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Unisplendour Corp and SSAW Hotels
The main advantage of trading using opposite Unisplendour Corp and SSAW Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Unisplendour Corp position performs unexpectedly, SSAW Hotels 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 SSAW Hotels will offset losses from the drop in SSAW Hotels' long position.| Unisplendour Corp vs. Tongling Nonferrous Metals | Unisplendour Corp vs. Lander Sports Development | Unisplendour Corp vs. Sino Platinum Metals Co | Unisplendour Corp vs. China Sports Industry |
| SSAW Hotels vs. Caihong Display Devices | SSAW Hotels vs. Beijing Seeyon Internet | SSAW Hotels vs. Unisplendour Corp | SSAW Hotels vs. Guangzhou Zhujiang Brewery |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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