Correlation Between Guilin Seamild and Telling Telecommunicatio
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By analyzing existing cross correlation between Guilin Seamild Foods and Telling Telecommunication Holding, you can compare the effects of market volatilities on Guilin Seamild and Telling Telecommunicatio 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 Telling Telecommunicatio. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Telling Telecommunicatio.
Diversification Opportunities for Guilin Seamild and Telling Telecommunicatio
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Guilin and Telling is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Telling Telecommunication Hold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Telling Telecommunicatio 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 Telling Telecommunicatio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Telling Telecommunicatio has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Telling Telecommunicatio go up and down completely randomly.
Pair Corralation between Guilin Seamild and Telling Telecommunicatio
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 0.59 times more return on investment than Telling Telecommunicatio. However, Guilin Seamild Foods is 1.68 times less risky than Telling Telecommunicatio. It trades about 0.12 of its potential returns per unit of risk. Telling Telecommunication Holding is currently generating about 0.0 per unit of risk. If you would invest 1,253 in Guilin Seamild Foods on October 14, 2024 and sell it today you would earn a total of 268.00 from holding Guilin Seamild Foods or generate 21.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Telling Telecommunication Hold
Performance |
| Timeline |
| Guilin Seamild Foods |
| Telling Telecommunicatio |
Guilin Seamild and Telling Telecommunicatio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Telling Telecommunicatio
The main advantage of trading using opposite Guilin Seamild and Telling Telecommunicatio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Telling Telecommunicatio 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 Telling Telecommunicatio will offset losses from the drop in Telling Telecommunicatio's long position.| Guilin Seamild vs. Guangzhou Ruoyuchen Information | Guilin Seamild vs. Jinxiandai Information Industry | Guilin Seamild vs. Hangzhou Gisway Information | Guilin Seamild vs. Zoy Home Furnishing |
| Telling Telecommunicatio vs. Sichuan Teway Food | Telling Telecommunicatio vs. Shantui Construction Machinery | Telling Telecommunicatio vs. Guilin Seamild Foods | Telling Telecommunicatio vs. HaiXin Foods 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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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