Correlation Between Haoxiangni Jujube and Soochow Suzhou
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By analyzing existing cross correlation between Haoxiangni Jujube Co and Soochow Suzhou Industrial, you can compare the effects of market volatilities on Haoxiangni Jujube and Soochow Suzhou 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 Haoxiangni Jujube with a short position of Soochow Suzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Haoxiangni Jujube and Soochow Suzhou.
Diversification Opportunities for Haoxiangni Jujube and Soochow Suzhou
-0.6 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Haoxiangni and Soochow is -0.6. Overlapping area represents the amount of risk that can be diversified away by holding Haoxiangni Jujube Co and Soochow Suzhou Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Soochow Suzhou Industrial and Haoxiangni Jujube 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 Haoxiangni Jujube Co are associated (or correlated) with Soochow Suzhou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Soochow Suzhou Industrial has no effect on the direction of Haoxiangni Jujube i.e., Haoxiangni Jujube and Soochow Suzhou go up and down completely randomly.
Pair Corralation between Haoxiangni Jujube and Soochow Suzhou
Assuming the 90 days trading horizon Haoxiangni Jujube Co is expected to generate 8.41 times more return on investment than Soochow Suzhou. However, Haoxiangni Jujube is 8.41 times more volatile than Soochow Suzhou Industrial. It trades about 0.12 of its potential returns per unit of risk. Soochow Suzhou Industrial is currently generating about -0.01 per unit of risk. If you would invest 561.00 in Haoxiangni Jujube Co on October 14, 2024 and sell it today you would earn a total of 203.00 from holding Haoxiangni Jujube Co or generate 36.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Haoxiangni Jujube Co vs. Soochow Suzhou Industrial
Performance |
| Timeline |
| Haoxiangni Jujube |
| Soochow Suzhou Industrial |
Haoxiangni Jujube and Soochow Suzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Haoxiangni Jujube and Soochow Suzhou
The main advantage of trading using opposite Haoxiangni Jujube and Soochow Suzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Haoxiangni Jujube position performs unexpectedly, Soochow Suzhou 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 Soochow Suzhou will offset losses from the drop in Soochow Suzhou's long position.| Haoxiangni Jujube vs. Western Metal Materials | Haoxiangni Jujube vs. Guangdong Jingyi Metal | Haoxiangni Jujube vs. Jiangsu Broadcasting Cable | Haoxiangni Jujube vs. RoadMain T Co |
| Soochow Suzhou vs. Servyou Software Group | Soochow Suzhou vs. Holitech Technology Co | Soochow Suzhou vs. Hangzhou Pinming Software | Soochow Suzhou vs. Bingo Software Co |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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