Correlation Between HaiXin Foods and Suzhou Cheersson
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By analyzing existing cross correlation between HaiXin Foods Co and Suzhou Cheersson Precision, you can compare the effects of market volatilities on HaiXin Foods and Suzhou Cheersson 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 Suzhou Cheersson. Check out your portfolio center. Please also check ongoing floating volatility patterns of HaiXin Foods and Suzhou Cheersson.
Diversification Opportunities for HaiXin Foods and Suzhou Cheersson
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between HaiXin and Suzhou is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding HaiXin Foods Co and Suzhou Cheersson Precision in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou Cheersson Pre 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 Suzhou Cheersson. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou Cheersson Pre has no effect on the direction of HaiXin Foods i.e., HaiXin Foods and Suzhou Cheersson go up and down completely randomly.
Pair Corralation between HaiXin Foods and Suzhou Cheersson
Assuming the 90 days trading horizon HaiXin Foods Co is expected to under-perform the Suzhou Cheersson. But the stock apears to be less risky and, when comparing its historical volatility, HaiXin Foods Co is 1.18 times less risky than Suzhou Cheersson. The stock trades about -0.01 of its potential returns per unit of risk. The Suzhou Cheersson Precision is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 2,611 in Suzhou Cheersson Precision on October 25, 2024 and sell it today you would lose (531.00) from holding Suzhou Cheersson Precision or give up 20.34% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
HaiXin Foods Co vs. Suzhou Cheersson Precision
Performance |
| Timeline |
| HaiXin Foods |
| Suzhou Cheersson Pre |
HaiXin Foods and Suzhou Cheersson Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HaiXin Foods and Suzhou Cheersson
The main advantage of trading using opposite HaiXin Foods and Suzhou Cheersson positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HaiXin Foods position performs unexpectedly, Suzhou Cheersson 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 Suzhou Cheersson will offset losses from the drop in Suzhou Cheersson's long position.| HaiXin Foods vs. Kweichow Moutai Co | HaiXin Foods vs. Contemporary Amperex Technology | HaiXin Foods vs. G bits Network Technology | HaiXin Foods vs. Beijing Roborock Technology |
| Suzhou Cheersson vs. Hubei Tech Semiconductors | Suzhou Cheersson vs. Ningxia Younglight Chemicals | Suzhou Cheersson vs. Shandong Polymer Biochemicals | Suzhou Cheersson vs. Lontium Semiconductor Corp |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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