Correlation Between Gansu Huangtai and China State
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By analyzing existing cross correlation between Gansu Huangtai Wine marketing and China State Construction, you can compare the effects of market volatilities on Gansu Huangtai and China State 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 Gansu Huangtai with a short position of China State. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gansu Huangtai and China State.
Diversification Opportunities for Gansu Huangtai and China State
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Gansu and China is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Gansu Huangtai Wine marketing and China State Construction in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China State Construction and Gansu Huangtai 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 Gansu Huangtai Wine marketing are associated (or correlated) with China State. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China State Construction has no effect on the direction of Gansu Huangtai i.e., Gansu Huangtai and China State go up and down completely randomly.
Pair Corralation between Gansu Huangtai and China State
Assuming the 90 days trading horizon Gansu Huangtai Wine marketing is expected to under-perform the China State. In addition to that, Gansu Huangtai is 4.71 times more volatile than China State Construction. It trades about -0.12 of its total potential returns per unit of risk. China State Construction is currently generating about -0.17 per unit of volatility. If you would invest 582.00 in China State Construction on November 3, 2024 and sell it today you would lose (18.00) from holding China State Construction or give up 3.09% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gansu Huangtai Wine marketing vs. China State Construction
Performance |
| Timeline |
| Gansu Huangtai Wine |
| China State Construction |
Gansu Huangtai and China State Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gansu Huangtai and China State
The main advantage of trading using opposite Gansu Huangtai and China State positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gansu Huangtai position performs unexpectedly, China State 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 China State will offset losses from the drop in China State's long position.| Gansu Huangtai vs. Harbin Air Conditioning | Gansu Huangtai vs. Dr Peng Telecom | Gansu Huangtai vs. Vats Liquor Chain | Gansu Huangtai vs. China Sports Industry |
| China State vs. Peoples Insurance of | China State vs. Southern PublishingMedia Co | China State vs. Shenwu Energy Saving | China State vs. Lecron Energy Saving |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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