Correlation Between GRG Banking and Zangge Holding
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By analyzing existing cross correlation between GRG Banking Equipment and Zangge Holding Co, you can compare the effects of market volatilities on GRG Banking and Zangge Holding 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 GRG Banking with a short position of Zangge Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of GRG Banking and Zangge Holding.
Diversification Opportunities for GRG Banking and Zangge Holding
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between GRG and Zangge is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding GRG Banking Equipment and Zangge Holding Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zangge Holding and GRG Banking 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 GRG Banking Equipment are associated (or correlated) with Zangge Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zangge Holding has no effect on the direction of GRG Banking i.e., GRG Banking and Zangge Holding go up and down completely randomly.
Pair Corralation between GRG Banking and Zangge Holding
If you would invest 0.00 in Zangge Holding Co on October 14, 2024 and sell it today you would earn a total of 0.00 from holding Zangge Holding Co or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 4.76% |
Values | Daily Returns |
GRG Banking Equipment vs. Zangge Holding Co
Performance |
Timeline |
GRG Banking Equipment |
Zangge Holding |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
GRG Banking and Zangge Holding Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with GRG Banking and Zangge Holding
The main advantage of trading using opposite GRG Banking and Zangge Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GRG Banking position performs unexpectedly, Zangge Holding 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 Zangge Holding will offset losses from the drop in Zangge Holding's long position.GRG Banking vs. Shanghai Sanyou Medical | GRG Banking vs. Guangdong Transtek Medical | GRG Banking vs. Dazhong Transportation Group | GRG Banking vs. Nanjing Vishee Medical |
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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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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