Correlation Between Guilin Seamild and Easyhome New
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By analyzing existing cross correlation between Guilin Seamild Foods and Easyhome New Retail, you can compare the effects of market volatilities on Guilin Seamild and Easyhome New 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 Guilin Seamild with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Easyhome New.
Diversification Opportunities for Guilin Seamild and Easyhome New
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Guilin and Easyhome is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Guilin Seamild 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 Guilin Seamild Foods are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Easyhome New go up and down completely randomly.
Pair Corralation between Guilin Seamild and Easyhome New
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 0.54 times more return on investment than Easyhome New. However, Guilin Seamild Foods is 1.84 times less risky than Easyhome New. It trades about -0.08 of its potential returns per unit of risk. Easyhome New Retail is currently generating about -0.06 per unit of risk. If you would invest 1,670 in Guilin Seamild Foods on October 25, 2024 and sell it today you would lose (79.00) from holding Guilin Seamild Foods or give up 4.73% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Easyhome New Retail
Performance |
| Timeline |
| Guilin Seamild Foods |
| Easyhome New Retail |
Guilin Seamild and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Easyhome New
The main advantage of trading using opposite Guilin Seamild and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Guilin Seamild vs. Agricultural Bank of | Guilin Seamild vs. Postal Savings Bank | Guilin Seamild vs. Bank of Communications | Guilin Seamild vs. China Merchants Bank |
| Easyhome New vs. PetroChina Co Ltd | Easyhome New vs. Gansu Jiu Steel | Easyhome New vs. Ming Yang Smart | Easyhome New vs. Aba Chemicals Corp |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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