Correlation Between Bus Online and Gansu Huangtai
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By analyzing existing cross correlation between Bus Online Co and Gansu Huangtai Wine marketing, you can compare the effects of market volatilities on Bus Online and Gansu Huangtai 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 Bus Online with a short position of Gansu Huangtai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bus Online and Gansu Huangtai.
Diversification Opportunities for Bus Online and Gansu Huangtai
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Bus and Gansu is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Bus Online Co and Gansu Huangtai Wine marketing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gansu Huangtai Wine and Bus Online 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 Bus Online Co are associated (or correlated) with Gansu Huangtai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gansu Huangtai Wine has no effect on the direction of Bus Online i.e., Bus Online and Gansu Huangtai go up and down completely randomly.
Pair Corralation between Bus Online and Gansu Huangtai
Assuming the 90 days trading horizon Bus Online is expected to generate 4.51 times less return on investment than Gansu Huangtai. In addition to that, Bus Online is 1.04 times more volatile than Gansu Huangtai Wine marketing. It trades about 0.02 of its total potential returns per unit of risk. Gansu Huangtai Wine marketing is currently generating about 0.08 per unit of volatility. If you would invest 1,456 in Gansu Huangtai Wine marketing on September 28, 2024 and sell it today you would earn a total of 81.00 from holding Gansu Huangtai Wine marketing or generate 5.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bus Online Co vs. Gansu Huangtai Wine marketing
Performance |
| Timeline |
| Bus Online |
| Gansu Huangtai Wine |
Bus Online and Gansu Huangtai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bus Online and Gansu Huangtai
The main advantage of trading using opposite Bus Online and Gansu Huangtai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bus Online position performs unexpectedly, Gansu Huangtai 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 Gansu Huangtai will offset losses from the drop in Gansu Huangtai's long position.| Bus Online vs. Industrial and Commercial | Bus Online vs. Agricultural Bank of | Bus Online vs. China Construction Bank | Bus Online vs. Bank of China |
| Gansu Huangtai vs. Western Mining Co | Gansu Huangtai vs. Zhongshan Public Utilities | Gansu Huangtai vs. Chenzhou Jingui Silver | Gansu Huangtai vs. Chengtun Mining Group |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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