Correlation Between Impulse Qingdao and Guilin Seamild
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By analyzing existing cross correlation between Impulse Qingdao Health and Guilin Seamild Foods, you can compare the effects of market volatilities on Impulse Qingdao and Guilin Seamild 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 Impulse Qingdao with a short position of Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Impulse Qingdao and Guilin Seamild.
Diversification Opportunities for Impulse Qingdao and Guilin Seamild
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Impulse and Guilin is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Impulse Qingdao Health and Guilin Seamild Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guilin Seamild Foods and Impulse Qingdao 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 Impulse Qingdao Health are associated (or correlated) with Guilin Seamild. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guilin Seamild Foods has no effect on the direction of Impulse Qingdao i.e., Impulse Qingdao and Guilin Seamild go up and down completely randomly.
Pair Corralation between Impulse Qingdao and Guilin Seamild
Assuming the 90 days trading horizon Impulse Qingdao Health is expected to generate 1.44 times more return on investment than Guilin Seamild. However, Impulse Qingdao is 1.44 times more volatile than Guilin Seamild Foods. It trades about 0.08 of its potential returns per unit of risk. Guilin Seamild Foods is currently generating about 0.1 per unit of risk. If you would invest 2,184 in Impulse Qingdao Health on October 23, 2024 and sell it today you would earn a total of 113.00 from holding Impulse Qingdao Health or generate 5.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Impulse Qingdao Health vs. Guilin Seamild Foods
Performance |
| Timeline |
| Impulse Qingdao Health |
| Guilin Seamild Foods |
Impulse Qingdao and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Impulse Qingdao and Guilin Seamild
The main advantage of trading using opposite Impulse Qingdao and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Impulse Qingdao position performs unexpectedly, Guilin Seamild 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 Guilin Seamild will offset losses from the drop in Guilin Seamild's long position.| Impulse Qingdao vs. Kontour Medical Technology | Impulse Qingdao vs. Allmed Medical Products | Impulse Qingdao vs. Hengkang Medical Group | Impulse Qingdao vs. CareRay Digital Medical |
| Guilin Seamild vs. Cambricon Technologies Corp | Guilin Seamild vs. SGSG Sciencetechnology Co | Guilin Seamild vs. Loongson Technology Corp | Guilin Seamild vs. Jiangsu Flowers King |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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