Correlation Between Bus Online and V V
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By analyzing existing cross correlation between Bus Online Co and V V Food, you can compare the effects of market volatilities on Bus Online and V V 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 V V. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bus Online and V V.
Diversification Opportunities for Bus Online and V V
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Bus and 600300 is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Bus Online Co and V V Food in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on V V Food 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 V V. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of V V Food has no effect on the direction of Bus Online i.e., Bus Online and V V go up and down completely randomly.
Pair Corralation between Bus Online and V V
Assuming the 90 days trading horizon Bus Online Co is expected to under-perform the V V. In addition to that, Bus Online is 1.08 times more volatile than V V Food. It trades about -0.08 of its total potential returns per unit of risk. V V Food is currently generating about 0.06 per unit of volatility. If you would invest 311.00 in V V Food on October 30, 2024 and sell it today you would earn a total of 18.00 from holding V V Food or generate 5.79% 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. V V Food
Performance |
| Timeline |
| Bus Online |
| V V Food |
Bus Online and V V Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bus Online and V V
The main advantage of trading using opposite Bus Online and V V positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bus Online position performs unexpectedly, V V 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 V V will offset losses from the drop in V V's long position.| Bus Online vs. Guangdong Liantai Environmental | Bus Online vs. Sinosteel Engineering and | Bus Online vs. Guangzhou Dongfang Hotel | Bus Online vs. Wuxi Xuelang Environmental |
| V V vs. Holitech Technology Co | V V vs. Ningbo Ligong Online | V V vs. Eyebright Medical Technology | V V vs. Thinkon Semiconductor Jinzhou |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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