Correlation Between Haoxiangni Jujube and Guangdong Liantai
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By analyzing existing cross correlation between Haoxiangni Jujube Co and Guangdong Liantai Environmental, you can compare the effects of market volatilities on Haoxiangni Jujube and Guangdong Liantai 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 Guangdong Liantai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Haoxiangni Jujube and Guangdong Liantai.
Diversification Opportunities for Haoxiangni Jujube and Guangdong Liantai
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Haoxiangni and Guangdong is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Haoxiangni Jujube Co and Guangdong Liantai Environmenta in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong Liantai 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 Guangdong Liantai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong Liantai has no effect on the direction of Haoxiangni Jujube i.e., Haoxiangni Jujube and Guangdong Liantai go up and down completely randomly.
Pair Corralation between Haoxiangni Jujube and Guangdong Liantai
Assuming the 90 days trading horizon Haoxiangni Jujube Co is expected to generate 2.36 times more return on investment than Guangdong Liantai. However, Haoxiangni Jujube is 2.36 times more volatile than Guangdong Liantai Environmental. It trades about 0.12 of its potential returns per unit of risk. Guangdong Liantai Environmental is currently generating about 0.02 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 Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Haoxiangni Jujube Co vs. Guangdong Liantai Environmenta
Performance |
| Timeline |
| Haoxiangni Jujube |
| Guangdong Liantai |
Haoxiangni Jujube and Guangdong Liantai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Haoxiangni Jujube and Guangdong Liantai
The main advantage of trading using opposite Haoxiangni Jujube and Guangdong Liantai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Haoxiangni Jujube position performs unexpectedly, Guangdong Liantai 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 Guangdong Liantai will offset losses from the drop in Guangdong Liantai'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 |
| Guangdong Liantai vs. Shenzhen MYS Environmental | Guangdong Liantai vs. AVIC Fund Management | Guangdong Liantai vs. Rongan Property Co | Guangdong Liantai vs. Haoxiangni Jujube 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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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