Correlation Between Chengdu Spaceon and Financial Street
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By analyzing existing cross correlation between Chengdu Spaceon Electronics and Financial Street Holdings, you can compare the effects of market volatilities on Chengdu Spaceon and Financial Street 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 Chengdu Spaceon with a short position of Financial Street. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chengdu Spaceon and Financial Street.
Diversification Opportunities for Chengdu Spaceon and Financial Street
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Chengdu and Financial is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Chengdu Spaceon Electronics and Financial Street Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Financial Street Holdings and Chengdu Spaceon 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 Chengdu Spaceon Electronics are associated (or correlated) with Financial Street. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Financial Street Holdings has no effect on the direction of Chengdu Spaceon i.e., Chengdu Spaceon and Financial Street go up and down completely randomly.
Pair Corralation between Chengdu Spaceon and Financial Street
Assuming the 90 days trading horizon Chengdu Spaceon Electronics is expected to generate 0.99 times more return on investment than Financial Street. However, Chengdu Spaceon Electronics is 1.01 times less risky than Financial Street. It trades about 0.0 of its potential returns per unit of risk. Financial Street Holdings is currently generating about -0.03 per unit of risk. If you would invest 1,735 in Chengdu Spaceon Electronics on October 16, 2024 and sell it today you would lose (265.00) from holding Chengdu Spaceon Electronics or give up 15.27% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Chengdu Spaceon Electronics vs. Financial Street Holdings
Performance |
| Timeline |
| Chengdu Spaceon Elec |
| Financial Street Holdings |
Chengdu Spaceon and Financial Street Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chengdu Spaceon and Financial Street
The main advantage of trading using opposite Chengdu Spaceon and Financial Street positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chengdu Spaceon position performs unexpectedly, Financial Street 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 Financial Street will offset losses from the drop in Financial Street's long position.| Chengdu Spaceon vs. Jiangxi Naipu Mining | Chengdu Spaceon vs. China Life Insurance | Chengdu Spaceon vs. Aba Chemicals Corp | Chengdu Spaceon vs. Chengtun Mining Group |
| Financial Street vs. Zoje Resources Investment | Financial Street vs. Postal Savings Bank | Financial Street vs. Zhongrun Resources Investment | Financial Street vs. Hunan Investment Group |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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