Correlation Between HanS Laser and Vanfund Urban
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By analyzing existing cross correlation between HanS Laser Tech and Vanfund Urban Investment, you can compare the effects of market volatilities on HanS Laser and Vanfund Urban 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 HanS Laser with a short position of Vanfund Urban. Check out your portfolio center. Please also check ongoing floating volatility patterns of HanS Laser and Vanfund Urban.
Diversification Opportunities for HanS Laser and Vanfund Urban
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between HanS and Vanfund is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding HanS Laser Tech and Vanfund Urban Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vanfund Urban Investment and HanS Laser 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 HanS Laser Tech are associated (or correlated) with Vanfund Urban. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vanfund Urban Investment has no effect on the direction of HanS Laser i.e., HanS Laser and Vanfund Urban go up and down completely randomly.
Pair Corralation between HanS Laser and Vanfund Urban
Assuming the 90 days trading horizon HanS Laser is expected to generate 4.46 times less return on investment than Vanfund Urban. But when comparing it to its historical volatility, HanS Laser Tech is 1.26 times less risky than Vanfund Urban. It trades about 0.03 of its potential returns per unit of risk. Vanfund Urban Investment is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 484.00 in Vanfund Urban Investment on September 5, 2024 and sell it today you would earn a total of 89.00 from holding Vanfund Urban Investment or generate 18.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
HanS Laser Tech vs. Vanfund Urban Investment
Performance |
| Timeline |
| HanS Laser Tech |
| Vanfund Urban Investment |
HanS Laser and Vanfund Urban Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HanS Laser and Vanfund Urban
The main advantage of trading using opposite HanS Laser and Vanfund Urban positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HanS Laser position performs unexpectedly, Vanfund Urban 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 Vanfund Urban will offset losses from the drop in Vanfund Urban's long position.| HanS Laser vs. Chengdu Kanghua Biological | HanS Laser vs. Beijing Wantai Biological | HanS Laser vs. Suzhou Novoprotein Scientific | HanS Laser vs. Aluminum Corp of |
| Vanfund Urban vs. China Petroleum Chemical | Vanfund Urban vs. PetroChina Co Ltd | Vanfund Urban vs. China State Construction | Vanfund Urban vs. China Railway Group |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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