Correlation Between Beijing Bewinner and Harvest Fund
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By analyzing existing cross correlation between Beijing Bewinner Communications and Harvest Fund Management, you can compare the effects of market volatilities on Beijing Bewinner and Harvest Fund 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 Beijing Bewinner with a short position of Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Bewinner and Harvest Fund.
Diversification Opportunities for Beijing Bewinner and Harvest Fund
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Beijing and Harvest is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Bewinner Communication and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management and Beijing Bewinner 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 Beijing Bewinner Communications are associated (or correlated) with Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Beijing Bewinner i.e., Beijing Bewinner and Harvest Fund go up and down completely randomly.
Pair Corralation between Beijing Bewinner and Harvest Fund
Assuming the 90 days trading horizon Beijing Bewinner Communications is expected to under-perform the Harvest Fund. In addition to that, Beijing Bewinner is 3.35 times more volatile than Harvest Fund Management. It trades about -0.02 of its total potential returns per unit of risk. Harvest Fund Management is currently generating about 0.65 per unit of volatility. If you would invest 260.00 in Harvest Fund Management on October 11, 2024 and sell it today you would earn a total of 72.00 from holding Harvest Fund Management or generate 27.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Bewinner Communication vs. Harvest Fund Management
Performance |
| Timeline |
| Beijing Bewinner Com |
| Harvest Fund Management |
Beijing Bewinner and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Bewinner and Harvest Fund
The main advantage of trading using opposite Beijing Bewinner and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Bewinner position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund's long position.| Beijing Bewinner vs. Xiandai Investment Co | Beijing Bewinner vs. Anhui Transport Consulting | Beijing Bewinner vs. Sino Platinum Metals Co | Beijing Bewinner vs. Heilongjiang Transport Development |
| Harvest Fund vs. Beijing Bewinner Communications | Harvest Fund vs. UE Furniture Co | Harvest Fund vs. China Mobile Limited | Harvest Fund vs. Wuhan Yangtze Communication |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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