Correlation Between Shenzhen Genvict and Bank of XiAn
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By analyzing existing cross correlation between Shenzhen Genvict Technologies and Bank of XiAn, you can compare the effects of market volatilities on Shenzhen Genvict and Bank of XiAn 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 Shenzhen Genvict with a short position of Bank of XiAn. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Genvict and Bank of XiAn.
Diversification Opportunities for Shenzhen Genvict and Bank of XiAn
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Shenzhen and Bank is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Genvict Technologies and Bank of XiAn in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank of XiAn and Shenzhen Genvict 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 Shenzhen Genvict Technologies are associated (or correlated) with Bank of XiAn. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank of XiAn has no effect on the direction of Shenzhen Genvict i.e., Shenzhen Genvict and Bank of XiAn go up and down completely randomly.
Pair Corralation between Shenzhen Genvict and Bank of XiAn
Assuming the 90 days trading horizon Shenzhen Genvict Technologies is expected to generate 2.69 times more return on investment than Bank of XiAn. However, Shenzhen Genvict is 2.69 times more volatile than Bank of XiAn. It trades about 0.04 of its potential returns per unit of risk. Bank of XiAn is currently generating about 0.02 per unit of risk. If you would invest 2,330 in Shenzhen Genvict Technologies on September 12, 2024 and sell it today you would earn a total of 788.00 from holding Shenzhen Genvict Technologies or generate 33.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.72% |
| Values | Daily Returns |
Shenzhen Genvict Technologies vs. Bank of XiAn
Performance |
| Timeline |
| Shenzhen Genvict Tec |
| Bank of XiAn |
Shenzhen Genvict and Bank of XiAn Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Genvict and Bank of XiAn
The main advantage of trading using opposite Shenzhen Genvict and Bank of XiAn positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Genvict position performs unexpectedly, Bank of XiAn 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 Bank of XiAn will offset losses from the drop in Bank of XiAn's long position.| Shenzhen Genvict vs. North Huajin Chemical | Shenzhen Genvict vs. Xinya Electronic Co | Shenzhen Genvict vs. Lootom Telcovideo Network | Shenzhen Genvict vs. Liaoning Dingjide Petrochemical |
| Bank of XiAn vs. Hang Xiao Steel | Bank of XiAn vs. Heilongjiang Transport Development | Bank of XiAn vs. Sino Platinum Metals Co | Bank of XiAn vs. Jiaozuo Wanfang Aluminum |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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