Correlation Between HaiXin Foods and Harvest Fund
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By analyzing existing cross correlation between HaiXin Foods Co and Harvest Fund Management, you can compare the effects of market volatilities on HaiXin Foods and Harvest Fund 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 Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of HaiXin Foods and Harvest Fund.
Diversification Opportunities for HaiXin Foods and Harvest Fund
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between HaiXin and Harvest is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding HaiXin Foods Co and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management 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 Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of HaiXin Foods i.e., HaiXin Foods and Harvest Fund go up and down completely randomly.
Pair Corralation between HaiXin Foods and Harvest Fund
Assuming the 90 days trading horizon HaiXin Foods Co is expected to generate 2.11 times more return on investment than Harvest Fund. However, HaiXin Foods is 2.11 times more volatile than Harvest Fund Management. It trades about -0.02 of its potential returns per unit of risk. Harvest Fund Management is currently generating about -0.05 per unit of risk. If you would invest 644.00 in HaiXin Foods Co on August 30, 2024 and sell it today you would lose (208.00) from holding HaiXin Foods Co or give up 32.3% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 92.23% |
| Values | Daily Returns |
HaiXin Foods Co vs. Harvest Fund Management
Performance |
| Timeline |
| HaiXin Foods |
| Harvest Fund Management |
HaiXin Foods and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HaiXin Foods and Harvest Fund
The main advantage of trading using opposite HaiXin Foods and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HaiXin Foods position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund's long position.| HaiXin Foods vs. Henan Shuanghui Investment | HaiXin Foods vs. Xiandai Investment Co | HaiXin Foods vs. Jointo Energy Investment | HaiXin Foods vs. Tieling Newcity Investment |
| Harvest Fund vs. Industrial and Commercial | Harvest Fund vs. Kweichow Moutai Co | Harvest Fund vs. Agricultural Bank of | Harvest Fund vs. China Mobile Limited |
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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