Correlation Between Arrow Home and Guilin Seamild
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By analyzing existing cross correlation between Arrow Home Group and Guilin Seamild Foods, you can compare the effects of market volatilities on Arrow Home and Guilin Seamild 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 Arrow Home with a short position of Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Arrow Home and Guilin Seamild.
Diversification Opportunities for Arrow Home and Guilin Seamild
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Arrow and Guilin is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Arrow Home Group and Guilin Seamild Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guilin Seamild Foods and Arrow Home 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 Arrow Home Group are associated (or correlated) with Guilin Seamild. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guilin Seamild Foods has no effect on the direction of Arrow Home i.e., Arrow Home and Guilin Seamild go up and down completely randomly.
Pair Corralation between Arrow Home and Guilin Seamild
Assuming the 90 days trading horizon Arrow Home Group is expected to under-perform the Guilin Seamild. But the stock apears to be less risky and, when comparing its historical volatility, Arrow Home Group is 1.33 times less risky than Guilin Seamild. The stock trades about -0.27 of its potential returns per unit of risk. The Guilin Seamild Foods is currently generating about -0.18 of returns per unit of risk over similar time horizon. If you would invest 1,732 in Guilin Seamild Foods on October 16, 2024 and sell it today you would lose (205.00) from holding Guilin Seamild Foods or give up 11.84% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Arrow Home Group vs. Guilin Seamild Foods
Performance |
| Timeline |
| Arrow Home Group |
| Guilin Seamild Foods |
Arrow Home and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Arrow Home and Guilin Seamild
The main advantage of trading using opposite Arrow Home and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Arrow Home position performs unexpectedly, Guilin Seamild 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 Guilin Seamild will offset losses from the drop in Guilin Seamild's long position.| Arrow Home vs. Tibet Huayu Mining | Arrow Home vs. Jinhui Liquor Co | Arrow Home vs. Aurora Optoelectronics Co | Arrow Home vs. YiDong Electronics Technology |
| Guilin Seamild vs. Hunan Investment Group | Guilin Seamild vs. Jiangsu Yueda Investment | Guilin Seamild vs. Porton Fine Chemicals | Guilin Seamild vs. Hubei Xingfa Chemicals |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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