Correlation Between Guilin Seamild and Tieling Newcity
Specify exactly 2 symbols:
By analyzing existing cross correlation between Guilin Seamild Foods and Tieling Newcity Investment, you can compare the effects of market volatilities on Guilin Seamild and Tieling Newcity 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 Tieling Newcity. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Tieling Newcity.
Diversification Opportunities for Guilin Seamild and Tieling Newcity
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Guilin and Tieling is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Tieling Newcity Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tieling Newcity Inve 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 Tieling Newcity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tieling Newcity Inve has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Tieling Newcity go up and down completely randomly.
Pair Corralation between Guilin Seamild and Tieling Newcity
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 0.86 times more return on investment than Tieling Newcity. However, Guilin Seamild Foods is 1.17 times less risky than Tieling Newcity. It trades about 0.25 of its potential returns per unit of risk. Tieling Newcity Investment is currently generating about 0.09 per unit of risk. If you would invest 1,562 in Guilin Seamild Foods on January 5, 2025 and sell it today you would earn a total of 148.00 from holding Guilin Seamild Foods or generate 9.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Tieling Newcity Investment
Performance |
| Timeline |
| Guilin Seamild Foods |
| Tieling Newcity Inve |
Guilin Seamild and Tieling Newcity Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Tieling Newcity
The main advantage of trading using opposite Guilin Seamild and Tieling Newcity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Tieling Newcity 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 Tieling Newcity will offset losses from the drop in Tieling Newcity's long position.| Guilin Seamild vs. Jointo Energy Investment | Guilin Seamild vs. Xilong Chemical Co | Guilin Seamild vs. Nanning Chemical Industry | Guilin Seamild vs. Henan Shuanghui Investment |
| Tieling Newcity vs. Zhejiang Yongjin Metal | Tieling Newcity vs. Zhengzhou Coal Mining | Tieling Newcity vs. Xinjiang Baodi Mining | Tieling Newcity vs. Shengda Mining Co |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Other Complementary Tools
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope |