Correlation Between Sichuan Yahua and Postal Savings
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By analyzing existing cross correlation between Sichuan Yahua Industrial and Postal Savings Bank, you can compare the effects of market volatilities on Sichuan Yahua and Postal Savings 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 Sichuan Yahua with a short position of Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sichuan Yahua and Postal Savings.
Diversification Opportunities for Sichuan Yahua and Postal Savings
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Sichuan and Postal is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Sichuan Yahua Industrial and Postal Savings Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Postal Savings Bank and Sichuan Yahua 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 Sichuan Yahua Industrial are associated (or correlated) with Postal Savings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Postal Savings Bank has no effect on the direction of Sichuan Yahua i.e., Sichuan Yahua and Postal Savings go up and down completely randomly.
Pair Corralation between Sichuan Yahua and Postal Savings
Assuming the 90 days trading horizon Sichuan Yahua Industrial is expected to generate 2.34 times more return on investment than Postal Savings. However, Sichuan Yahua is 2.34 times more volatile than Postal Savings Bank. It trades about 0.32 of its potential returns per unit of risk. Postal Savings Bank is currently generating about 0.01 per unit of risk. If you would invest 1,135 in Sichuan Yahua Industrial on November 5, 2024 and sell it today you would earn a total of 181.00 from holding Sichuan Yahua Industrial or generate 15.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sichuan Yahua Industrial vs. Postal Savings Bank
Performance |
| Timeline |
| Sichuan Yahua Industrial |
| Postal Savings Bank |
Sichuan Yahua and Postal Savings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sichuan Yahua and Postal Savings
The main advantage of trading using opposite Sichuan Yahua and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sichuan Yahua position performs unexpectedly, Postal Savings 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 Postal Savings will offset losses from the drop in Postal Savings' long position.| Sichuan Yahua vs. Goodwill E Health | Sichuan Yahua vs. Huatian Hotel Group | Sichuan Yahua vs. Jiangsu Financial Leasing | Sichuan Yahua vs. Xiamen Bank Co |
| Postal Savings vs. Maxvision Technology Corp | Postal Savings vs. Keda Clean Energy | Postal Savings vs. Bangyan Technology Co | Postal Savings vs. 360 Security 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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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