Correlation Between Beijing Bewinner and Time Publishing
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By analyzing existing cross correlation between Beijing Bewinner Communications and Time Publishing and, you can compare the effects of market volatilities on Beijing Bewinner and Time Publishing 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 Time Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Bewinner and Time Publishing.
Diversification Opportunities for Beijing Bewinner and Time Publishing
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Beijing and Time is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Bewinner Communication and Time Publishing and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Time Publishing 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 Time Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Time Publishing has no effect on the direction of Beijing Bewinner i.e., Beijing Bewinner and Time Publishing go up and down completely randomly.
Pair Corralation between Beijing Bewinner and Time Publishing
Assuming the 90 days trading horizon Beijing Bewinner Communications is expected to generate 1.01 times more return on investment than Time Publishing. However, Beijing Bewinner is 1.01 times more volatile than Time Publishing and. It trades about 0.02 of its potential returns per unit of risk. Time Publishing and is currently generating about 0.01 per unit of risk. If you would invest 554.00 in Beijing Bewinner Communications on September 3, 2024 and sell it today you would earn a total of 80.00 from holding Beijing Bewinner Communications or generate 14.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Bewinner Communication vs. Time Publishing and
Performance |
| Timeline |
| Beijing Bewinner Com |
| Time Publishing |
Beijing Bewinner and Time Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Bewinner and Time Publishing
The main advantage of trading using opposite Beijing Bewinner and Time Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Bewinner position performs unexpectedly, Time Publishing 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 Time Publishing will offset losses from the drop in Time Publishing's long position.| Beijing Bewinner vs. Time Publishing and | Beijing Bewinner vs. Beijing Sanyuan Foods | Beijing Bewinner vs. Northern United Publishing | Beijing Bewinner vs. Anji Foodstuff Co |
| Time Publishing vs. Gansu Jiu Steel | Time Publishing vs. Ming Yang Smart | Time Publishing vs. Aba Chemicals Corp | Time Publishing vs. Loctek Ergonomic Technology |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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