Correlation Between Tianshui Huatian and Postal Savings
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By analyzing existing cross correlation between Tianshui Huatian Technology and Postal Savings Bank, you can compare the effects of market volatilities on Tianshui Huatian and Postal Savings 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 Tianshui Huatian with a short position of Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tianshui Huatian and Postal Savings.
Diversification Opportunities for Tianshui Huatian and Postal Savings
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Tianshui and Postal is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Tianshui Huatian Technology and Postal Savings Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Postal Savings Bank and Tianshui Huatian 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 Tianshui Huatian Technology are associated (or correlated) with Postal Savings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Postal Savings Bank has no effect on the direction of Tianshui Huatian i.e., Tianshui Huatian and Postal Savings go up and down completely randomly.
Pair Corralation between Tianshui Huatian and Postal Savings
Assuming the 90 days trading horizon Tianshui Huatian Technology is expected to under-perform the Postal Savings. In addition to that, Tianshui Huatian is 1.42 times more volatile than Postal Savings Bank. It trades about -0.18 of its total potential returns per unit of risk. Postal Savings Bank is currently generating about -0.06 per unit of volatility. If you would invest 559.00 in Postal Savings Bank on October 11, 2024 and sell it today you would lose (14.00) from holding Postal Savings Bank or give up 2.5% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tianshui Huatian Technology vs. Postal Savings Bank
Performance |
| Timeline |
| Tianshui Huatian Tec |
| Postal Savings Bank |
Tianshui Huatian and Postal Savings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tianshui Huatian and Postal Savings
The main advantage of trading using opposite Tianshui Huatian and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tianshui Huatian position performs unexpectedly, Postal Savings 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 Postal Savings will offset losses from the drop in Postal Savings' long position.| Tianshui Huatian vs. Jiangsu Yanghe Brewery | Tianshui Huatian vs. Guangdong Xiongsu Technology | Tianshui Huatian vs. Sinofibers Technology Co | Tianshui Huatian vs. Olympic Circuit Technology |
| Postal Savings vs. Jiajia Food Group | Postal Savings vs. Tianshui Huatian Technology | Postal Savings vs. Kuangda Technology Group | Postal Savings vs. Offshore Oil Engineering |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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