Correlation Between HaiXin Foods and Telling Telecommunicatio
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By analyzing existing cross correlation between HaiXin Foods Co and Telling Telecommunication Holding, you can compare the effects of market volatilities on HaiXin Foods and Telling Telecommunicatio 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 HaiXin Foods with a short position of Telling Telecommunicatio. Check out your portfolio center. Please also check ongoing floating volatility patterns of HaiXin Foods and Telling Telecommunicatio.
Diversification Opportunities for HaiXin Foods and Telling Telecommunicatio
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between HaiXin and Telling is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding HaiXin Foods Co and Telling Telecommunication Hold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Telling Telecommunicatio and HaiXin Foods 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 HaiXin Foods Co are associated (or correlated) with Telling Telecommunicatio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Telling Telecommunicatio has no effect on the direction of HaiXin Foods i.e., HaiXin Foods and Telling Telecommunicatio go up and down completely randomly.
Pair Corralation between HaiXin Foods and Telling Telecommunicatio
Assuming the 90 days trading horizon HaiXin Foods Co is expected to generate 0.96 times more return on investment than Telling Telecommunicatio. However, HaiXin Foods Co is 1.04 times less risky than Telling Telecommunicatio. It trades about 0.07 of its potential returns per unit of risk. Telling Telecommunication Holding is currently generating about 0.0 per unit of risk. If you would invest 356.00 in HaiXin Foods Co on October 14, 2024 and sell it today you would earn a total of 49.00 from holding HaiXin Foods Co or generate 13.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
HaiXin Foods Co vs. Telling Telecommunication Hold
Performance |
| Timeline |
| HaiXin Foods |
| Telling Telecommunicatio |
HaiXin Foods and Telling Telecommunicatio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HaiXin Foods and Telling Telecommunicatio
The main advantage of trading using opposite HaiXin Foods and Telling Telecommunicatio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HaiXin Foods position performs unexpectedly, Telling Telecommunicatio 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 Telling Telecommunicatio will offset losses from the drop in Telling Telecommunicatio's long position.| HaiXin Foods vs. Weihai Honglin Electronic | HaiXin Foods vs. Zhengzhou Coal Mining | HaiXin Foods vs. Beijing YanDong MicroElectronic | HaiXin Foods vs. TongFu Microelectronics Co |
| Telling Telecommunicatio vs. Sichuan Teway Food | Telling Telecommunicatio vs. Shantui Construction Machinery | Telling Telecommunicatio vs. Guilin Seamild Foods | Telling Telecommunicatio vs. HaiXin Foods 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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