Correlation Between Qiming Information and Guangzhou Haozhi
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By analyzing existing cross correlation between Qiming Information Technology and Guangzhou Haozhi Industrial, you can compare the effects of market volatilities on Qiming Information and Guangzhou Haozhi 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 Qiming Information with a short position of Guangzhou Haozhi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qiming Information and Guangzhou Haozhi.
Diversification Opportunities for Qiming Information and Guangzhou Haozhi
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Qiming and Guangzhou is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Qiming Information Technology and Guangzhou Haozhi Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangzhou Haozhi Ind and Qiming Information 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 Qiming Information Technology are associated (or correlated) with Guangzhou Haozhi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangzhou Haozhi Ind has no effect on the direction of Qiming Information i.e., Qiming Information and Guangzhou Haozhi go up and down completely randomly.
Pair Corralation between Qiming Information and Guangzhou Haozhi
Assuming the 90 days trading horizon Qiming Information Technology is expected to generate 1.04 times more return on investment than Guangzhou Haozhi. However, Qiming Information is 1.04 times more volatile than Guangzhou Haozhi Industrial. It trades about -0.22 of its potential returns per unit of risk. Guangzhou Haozhi Industrial is currently generating about -0.25 per unit of risk. If you would invest 2,250 in Qiming Information Technology on October 14, 2024 and sell it today you would lose (404.00) from holding Qiming Information Technology or give up 17.96% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qiming Information Technology vs. Guangzhou Haozhi Industrial
Performance |
| Timeline |
| Qiming Information |
| Guangzhou Haozhi Ind |
Qiming Information and Guangzhou Haozhi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qiming Information and Guangzhou Haozhi
The main advantage of trading using opposite Qiming Information and Guangzhou Haozhi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qiming Information position performs unexpectedly, Guangzhou Haozhi 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 Guangzhou Haozhi will offset losses from the drop in Guangzhou Haozhi's long position.| Qiming Information vs. Heren Health Co | Qiming Information vs. Zhejiang Kingland Pipeline | Qiming Information vs. Shandong Longquan Pipeline | Qiming Information vs. Huatian Hotel Group |
| Guangzhou Haozhi vs. Fiberhome Telecommunication Technologies | Guangzhou Haozhi vs. Miracll Chemicals Co | Guangzhou Haozhi vs. Do Fluoride Chemicals Co | Guangzhou Haozhi vs. Aba Chemicals Corp |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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