Correlation Between Holitech Technology and Bank of Suzhou
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By analyzing existing cross correlation between Holitech Technology Co and Bank of Suzhou, you can compare the effects of market volatilities on Holitech Technology and Bank of Suzhou 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 Holitech Technology with a short position of Bank of Suzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Holitech Technology and Bank of Suzhou.
Diversification Opportunities for Holitech Technology and Bank of Suzhou
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Holitech and Bank is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Holitech Technology Co and Bank of Suzhou in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank of Suzhou and Holitech Technology 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 Holitech Technology Co are associated (or correlated) with Bank of Suzhou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank of Suzhou has no effect on the direction of Holitech Technology i.e., Holitech Technology and Bank of Suzhou go up and down completely randomly.
Pair Corralation between Holitech Technology and Bank of Suzhou
Assuming the 90 days trading horizon Holitech Technology Co is expected to generate 3.38 times more return on investment than Bank of Suzhou. However, Holitech Technology is 3.38 times more volatile than Bank of Suzhou. It trades about 0.27 of its potential returns per unit of risk. Bank of Suzhou is currently generating about 0.23 per unit of risk. If you would invest 174.00 in Holitech Technology Co on September 1, 2024 and sell it today you would earn a total of 45.00 from holding Holitech Technology Co or generate 25.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Holitech Technology Co vs. Bank of Suzhou
Performance |
| Timeline |
| Holitech Technology |
| Bank of Suzhou |
Holitech Technology and Bank of Suzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Holitech Technology and Bank of Suzhou
The main advantage of trading using opposite Holitech Technology and Bank of Suzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Holitech Technology position performs unexpectedly, Bank of Suzhou 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 Bank of Suzhou will offset losses from the drop in Bank of Suzhou's long position.| Holitech Technology vs. Cultural Investment Holdings | Holitech Technology vs. Gome Telecom Equipment | Holitech Technology vs. Bus Online Co | Holitech Technology vs. Zotye Automobile Co |
| Bank of Suzhou vs. Cultural Investment Holdings | Bank of Suzhou vs. Bus Online Co | Bank of Suzhou vs. Holitech Technology Co | Bank of Suzhou vs. Zotye Automobile Co |
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 Stocks Directory module to find actively traded stocks across global markets.
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