Correlation Between HeNan Splendor and China Vanke
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By analyzing existing cross correlation between HeNan Splendor Science and China Vanke Co, you can compare the effects of market volatilities on HeNan Splendor and China Vanke 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 HeNan Splendor with a short position of China Vanke. Check out your portfolio center. Please also check ongoing floating volatility patterns of HeNan Splendor and China Vanke.
Diversification Opportunities for HeNan Splendor and China Vanke
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between HeNan and China is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding HeNan Splendor Science and China Vanke Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Vanke and HeNan Splendor 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 HeNan Splendor Science are associated (or correlated) with China Vanke. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Vanke has no effect on the direction of HeNan Splendor i.e., HeNan Splendor and China Vanke go up and down completely randomly.
Pair Corralation between HeNan Splendor and China Vanke
Assuming the 90 days trading horizon HeNan Splendor Science is expected to generate 1.19 times more return on investment than China Vanke. However, HeNan Splendor is 1.19 times more volatile than China Vanke Co. It trades about 0.17 of its potential returns per unit of risk. China Vanke Co is currently generating about 0.05 per unit of risk. If you would invest 947.00 in HeNan Splendor Science on November 3, 2024 and sell it today you would earn a total of 101.00 from holding HeNan Splendor Science or generate 10.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
HeNan Splendor Science vs. China Vanke Co
Performance |
| Timeline |
| HeNan Splendor Science |
| China Vanke |
HeNan Splendor and China Vanke Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HeNan Splendor and China Vanke
The main advantage of trading using opposite HeNan Splendor and China Vanke positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HeNan Splendor position performs unexpectedly, China Vanke 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 China Vanke will offset losses from the drop in China Vanke's long position.| HeNan Splendor vs. Suzhou Oriental Semiconductor | HeNan Splendor vs. Emdoor Information Co | HeNan Splendor vs. Invengo Information Technology | HeNan Splendor vs. Bonree Data Technology |
| China Vanke vs. Yankershop Food Co | China Vanke vs. Jiamei Food Packaging | China Vanke vs. Anji Foodstuff Co | China Vanke vs. JuneYao Dairy 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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