Correlation Between SUNSEA Telecommunicatio and Bus Online
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By analyzing existing cross correlation between SUNSEA Telecommunications Co and Bus Online Co, you can compare the effects of market volatilities on SUNSEA Telecommunicatio and Bus Online 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 SUNSEA Telecommunicatio with a short position of Bus Online. Check out your portfolio center. Please also check ongoing floating volatility patterns of SUNSEA Telecommunicatio and Bus Online.
Diversification Opportunities for SUNSEA Telecommunicatio and Bus Online
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between SUNSEA and Bus is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding SUNSEA Telecommunications Co and Bus Online Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bus Online and SUNSEA Telecommunicatio 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 SUNSEA Telecommunications Co are associated (or correlated) with Bus Online. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bus Online has no effect on the direction of SUNSEA Telecommunicatio i.e., SUNSEA Telecommunicatio and Bus Online go up and down completely randomly.
Pair Corralation between SUNSEA Telecommunicatio and Bus Online
Assuming the 90 days trading horizon SUNSEA Telecommunications Co is expected to generate 1.4 times more return on investment than Bus Online. However, SUNSEA Telecommunicatio is 1.4 times more volatile than Bus Online Co. It trades about 0.11 of its potential returns per unit of risk. Bus Online Co is currently generating about -0.02 per unit of risk. If you would invest 816.00 in SUNSEA Telecommunications Co on October 26, 2024 and sell it today you would earn a total of 91.00 from holding SUNSEA Telecommunications Co or generate 11.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SUNSEA Telecommunications Co vs. Bus Online Co
Performance |
| Timeline |
| SUNSEA Telecommunicatio |
| Bus Online |
SUNSEA Telecommunicatio and Bus Online Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SUNSEA Telecommunicatio and Bus Online
The main advantage of trading using opposite SUNSEA Telecommunicatio and Bus Online positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SUNSEA Telecommunicatio position performs unexpectedly, Bus Online 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 Bus Online will offset losses from the drop in Bus Online's long position.| SUNSEA Telecommunicatio vs. Bus Online Co | SUNSEA Telecommunicatio vs. Holitech Technology Co | SUNSEA Telecommunicatio vs. Gome Telecom Equipment | SUNSEA Telecommunicatio vs. Cultural Investment Holdings |
| Bus Online vs. Miracll Chemicals Co | Bus Online vs. Marssenger Kitchenware Co | Bus Online vs. Uroica Mining Safety | Bus Online vs. Anhui Tongguan Copper |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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