Correlation Between Shanghai Yaoji and ACM Research
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By analyzing existing cross correlation between Shanghai Yaoji Playing and ACM Research Shanghai, you can compare the effects of market volatilities on Shanghai Yaoji and ACM Research 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 Shanghai Yaoji with a short position of ACM Research. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shanghai Yaoji and ACM Research.
Diversification Opportunities for Shanghai Yaoji and ACM Research
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Shanghai and ACM is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Yaoji Playing and ACM Research Shanghai in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACM Research Shanghai and Shanghai Yaoji 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 Shanghai Yaoji Playing are associated (or correlated) with ACM Research. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACM Research Shanghai has no effect on the direction of Shanghai Yaoji i.e., Shanghai Yaoji and ACM Research go up and down completely randomly.
Pair Corralation between Shanghai Yaoji and ACM Research
Assuming the 90 days trading horizon Shanghai Yaoji Playing is expected to under-perform the ACM Research. In addition to that, Shanghai Yaoji is 2.06 times more volatile than ACM Research Shanghai. It trades about -0.52 of its total potential returns per unit of risk. ACM Research Shanghai is currently generating about -0.41 per unit of volatility. If you would invest 10,815 in ACM Research Shanghai on October 14, 2024 and sell it today you would lose (1,253) from holding ACM Research Shanghai or give up 11.59% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shanghai Yaoji Playing vs. ACM Research Shanghai
Performance |
| Timeline |
| Shanghai Yaoji Playing |
| ACM Research Shanghai |
Shanghai Yaoji and ACM Research Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shanghai Yaoji and ACM Research
The main advantage of trading using opposite Shanghai Yaoji and ACM Research positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shanghai Yaoji position performs unexpectedly, ACM Research 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 ACM Research will offset losses from the drop in ACM Research's long position.| Shanghai Yaoji vs. Innovative Medical Management | Shanghai Yaoji vs. Eastroc Beverage Group | Shanghai Yaoji vs. JCHX Mining Management | Shanghai Yaoji vs. GRG Banking Equipment |
| ACM Research vs. Shuhua Sports Co | ACM Research vs. Guosheng Financial Holding | ACM Research vs. Shanghai Yaoji Playing | ACM Research vs. Postal Savings Bank |
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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