Correlation Between Huasi Agricultural and Der International
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By analyzing existing cross correlation between Huasi Agricultural Development and Der International Home, you can compare the effects of market volatilities on Huasi Agricultural and Der International 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 Huasi Agricultural with a short position of Der International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Huasi Agricultural and Der International.
Diversification Opportunities for Huasi Agricultural and Der International
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Huasi and Der is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Huasi Agricultural Development and Der International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Der International Home and Huasi Agricultural 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 Huasi Agricultural Development are associated (or correlated) with Der International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Der International Home has no effect on the direction of Huasi Agricultural i.e., Huasi Agricultural and Der International go up and down completely randomly.
Pair Corralation between Huasi Agricultural and Der International
Assuming the 90 days trading horizon Huasi Agricultural Development is expected to generate 0.84 times more return on investment than Der International. However, Huasi Agricultural Development is 1.19 times less risky than Der International. It trades about 0.09 of its potential returns per unit of risk. Der International Home is currently generating about -0.06 per unit of risk. If you would invest 347.00 in Huasi Agricultural Development on October 15, 2024 and sell it today you would earn a total of 52.00 from holding Huasi Agricultural Development or generate 14.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Huasi Agricultural Development vs. Der International Home
Performance |
| Timeline |
| Huasi Agricultural |
| Der International Home |
Huasi Agricultural and Der International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Huasi Agricultural and Der International
The main advantage of trading using opposite Huasi Agricultural and Der International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Huasi Agricultural position performs unexpectedly, Der International 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 Der International will offset losses from the drop in Der International's long position.| Huasi Agricultural vs. XinJiang GuoTong Pipeline | Huasi Agricultural vs. Shandong Polymer Biochemicals | Huasi Agricultural vs. China Minmetals Rare | Huasi Agricultural vs. Zhejiang Kingland Pipeline |
| Der International vs. GuoChuang Software Co | Der International vs. Cansino Biologics | Der International vs. Fujian Boss Software | Der International vs. Guangzhou KDT Machinery |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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