Correlation Between Shenzhen Fastprint and Shuhua Sports
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By analyzing existing cross correlation between Shenzhen Fastprint Circuit and Shuhua Sports Co, you can compare the effects of market volatilities on Shenzhen Fastprint and Shuhua Sports 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 Shenzhen Fastprint with a short position of Shuhua Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Fastprint and Shuhua Sports.
Diversification Opportunities for Shenzhen Fastprint and Shuhua Sports
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Shenzhen and Shuhua is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Fastprint Circuit and Shuhua Sports Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shuhua Sports and Shenzhen Fastprint 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 Shenzhen Fastprint Circuit are associated (or correlated) with Shuhua Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shuhua Sports has no effect on the direction of Shenzhen Fastprint i.e., Shenzhen Fastprint and Shuhua Sports go up and down completely randomly.
Pair Corralation between Shenzhen Fastprint and Shuhua Sports
Assuming the 90 days trading horizon Shenzhen Fastprint Circuit is expected to generate 1.26 times more return on investment than Shuhua Sports. However, Shenzhen Fastprint is 1.26 times more volatile than Shuhua Sports Co. It trades about 0.02 of its potential returns per unit of risk. Shuhua Sports Co is currently generating about 0.0 per unit of risk. If you would invest 1,151 in Shenzhen Fastprint Circuit on September 4, 2024 and sell it today you would earn a total of 50.00 from holding Shenzhen Fastprint Circuit or generate 4.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen Fastprint Circuit vs. Shuhua Sports Co
Performance |
| Timeline |
| Shenzhen Fastprint |
| Shuhua Sports |
Shenzhen Fastprint and Shuhua Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Fastprint and Shuhua Sports
The main advantage of trading using opposite Shenzhen Fastprint and Shuhua Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Fastprint position performs unexpectedly, Shuhua Sports 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 Shuhua Sports will offset losses from the drop in Shuhua Sports' long position.| Shenzhen Fastprint vs. Shuhua Sports Co | Shenzhen Fastprint vs. Vanfund Urban Investment | Shenzhen Fastprint vs. China Sports Industry | Shenzhen Fastprint vs. Linewell Software Co |
| Shuhua Sports vs. BeiGene | Shuhua Sports vs. Kweichow Moutai Co | Shuhua Sports vs. Beijing Roborock Technology | Shuhua Sports vs. G bits Network Technology |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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