Correlation Between Risesun Real and Nanjing Putian
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By analyzing existing cross correlation between Risesun Real Estate and Nanjing Putian Telecommunications, you can compare the effects of market volatilities on Risesun Real and Nanjing Putian 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 Risesun Real with a short position of Nanjing Putian. Check out your portfolio center. Please also check ongoing floating volatility patterns of Risesun Real and Nanjing Putian.
Diversification Opportunities for Risesun Real and Nanjing Putian
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Risesun and Nanjing is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Risesun Real Estate and Nanjing Putian Telecommunicati in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nanjing Putian Telec and Risesun Real 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 Risesun Real Estate are associated (or correlated) with Nanjing Putian. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nanjing Putian Telec has no effect on the direction of Risesun Real i.e., Risesun Real and Nanjing Putian go up and down completely randomly.
Pair Corralation between Risesun Real and Nanjing Putian
Assuming the 90 days trading horizon Risesun Real Estate is expected to generate 1.24 times more return on investment than Nanjing Putian. However, Risesun Real is 1.24 times more volatile than Nanjing Putian Telecommunications. It trades about 0.21 of its potential returns per unit of risk. Nanjing Putian Telecommunications is currently generating about 0.14 per unit of risk. If you would invest 179.00 in Risesun Real Estate on September 5, 2024 and sell it today you would earn a total of 45.00 from holding Risesun Real Estate or generate 25.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Risesun Real Estate vs. Nanjing Putian Telecommunicati
Performance |
| Timeline |
| Risesun Real Estate |
| Nanjing Putian Telec |
Risesun Real and Nanjing Putian Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Risesun Real and Nanjing Putian
The main advantage of trading using opposite Risesun Real and Nanjing Putian positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Risesun Real position performs unexpectedly, Nanjing Putian 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 Nanjing Putian will offset losses from the drop in Nanjing Putian's long position.| Risesun Real vs. Nanjing Putian Telecommunications | Risesun Real vs. Tianjin Realty Development | Risesun Real vs. Shenyang Huitian Thermal | Risesun Real vs. Shenzhen Changfang Light |
| Nanjing Putian vs. Industrial and Commercial | Nanjing Putian vs. China Construction Bank | Nanjing Putian vs. Bank of China | Nanjing Putian vs. Agricultural Bank of |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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