Correlation Between Chengdu Spaceon and Bank of Suzhou
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By analyzing existing cross correlation between Chengdu Spaceon Electronics and Bank of Suzhou, you can compare the effects of market volatilities on Chengdu Spaceon and Bank of Suzhou 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 Bank of Suzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chengdu Spaceon and Bank of Suzhou.
Diversification Opportunities for Chengdu Spaceon and Bank of Suzhou
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Chengdu and Bank is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Chengdu Spaceon Electronics and Bank of Suzhou in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank of Suzhou 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 Bank of Suzhou. 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 Suzhou has no effect on the direction of Chengdu Spaceon i.e., Chengdu Spaceon and Bank of Suzhou go up and down completely randomly.
Pair Corralation between Chengdu Spaceon and Bank of Suzhou
Assuming the 90 days trading horizon Chengdu Spaceon is expected to generate 101.25 times less return on investment than Bank of Suzhou. In addition to that, Chengdu Spaceon is 1.84 times more volatile than Bank of Suzhou. It trades about 0.0 of its total potential returns per unit of risk. Bank of Suzhou is currently generating about 0.03 per unit of volatility. If you would invest 684.00 in Bank of Suzhou on October 16, 2024 and sell it today you would earn a total of 106.00 from holding Bank of Suzhou or generate 15.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Chengdu Spaceon Electronics vs. Bank of Suzhou
Performance |
| Timeline |
| Chengdu Spaceon Elec |
| Bank of Suzhou |
Chengdu Spaceon and Bank of Suzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chengdu Spaceon and Bank of Suzhou
The main advantage of trading using opposite Chengdu Spaceon and Bank of Suzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chengdu Spaceon position performs unexpectedly, Bank of Suzhou 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 Suzhou will offset losses from the drop in Bank of Suzhou'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 |
| Bank of Suzhou vs. Threes Company Media | Bank of Suzhou vs. Anhui Xinhua Media | Bank of Suzhou vs. Shuhua Sports Co | Bank of Suzhou vs. HanS Laser Tech |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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