Correlation Between ZYF Lopsking and Suzhou Xingye
Specify exactly 2 symbols:
By analyzing existing cross correlation between ZYF Lopsking Aluminum and Suzhou Xingye Material, you can compare the effects of market volatilities on ZYF Lopsking and Suzhou Xingye 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 ZYF Lopsking with a short position of Suzhou Xingye. Check out your portfolio center. Please also check ongoing floating volatility patterns of ZYF Lopsking and Suzhou Xingye.
Diversification Opportunities for ZYF Lopsking and Suzhou Xingye
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between ZYF and Suzhou is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding ZYF Lopsking Aluminum and Suzhou Xingye Material in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou Xingye Material and ZYF Lopsking 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 ZYF Lopsking Aluminum are associated (or correlated) with Suzhou Xingye. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou Xingye Material has no effect on the direction of ZYF Lopsking i.e., ZYF Lopsking and Suzhou Xingye go up and down completely randomly.
Pair Corralation between ZYF Lopsking and Suzhou Xingye
Assuming the 90 days trading horizon ZYF Lopsking Aluminum is expected to generate 0.95 times more return on investment than Suzhou Xingye. However, ZYF Lopsking Aluminum is 1.05 times less risky than Suzhou Xingye. It trades about 0.02 of its potential returns per unit of risk. Suzhou Xingye Material is currently generating about 0.0 per unit of risk. If you would invest 583.00 in ZYF Lopsking Aluminum on August 31, 2024 and sell it today you would earn a total of 0.00 from holding ZYF Lopsking Aluminum or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 99.72% |
| Values | Daily Returns |
ZYF Lopsking Aluminum vs. Suzhou Xingye Material
Performance |
| Timeline |
| ZYF Lopsking Aluminum |
| Suzhou Xingye Material |
ZYF Lopsking and Suzhou Xingye Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ZYF Lopsking and Suzhou Xingye
The main advantage of trading using opposite ZYF Lopsking and Suzhou Xingye positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ZYF Lopsking position performs unexpectedly, Suzhou Xingye 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 Suzhou Xingye will offset losses from the drop in Suzhou Xingye's long position.| ZYF Lopsking vs. Sino Platinum Metals Co | ZYF Lopsking vs. Rising Nonferrous Metals | ZYF Lopsking vs. Shandong Sino Agri United | ZYF Lopsking vs. Shanghai Yanpu Metal |
| Suzhou Xingye vs. Guangdong Jingyi Metal | Suzhou Xingye vs. Jiangsu Financial Leasing | Suzhou Xingye vs. Qingdao Choho Industrial | Suzhou Xingye vs. ZYF Lopsking Aluminum |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences |