Correlation Between Guilin Seamild and Invengo Information
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By analyzing existing cross correlation between Guilin Seamild Foods and Invengo Information Technology, you can compare the effects of market volatilities on Guilin Seamild and Invengo Information 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 Invengo Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Invengo Information.
Diversification Opportunities for Guilin Seamild and Invengo Information
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Guilin and Invengo is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Invengo Information Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Invengo Information 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 Invengo Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Invengo Information has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Invengo Information go up and down completely randomly.
Pair Corralation between Guilin Seamild and Invengo Information
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 0.81 times more return on investment than Invengo Information. However, Guilin Seamild Foods is 1.23 times less risky than Invengo Information. It trades about 0.02 of its potential returns per unit of risk. Invengo Information Technology is currently generating about 0.0 per unit of risk. If you would invest 1,360 in Guilin Seamild Foods on October 16, 2024 and sell it today you would earn a total of 167.00 from holding Guilin Seamild Foods or generate 12.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Invengo Information Technology
Performance |
| Timeline |
| Guilin Seamild Foods |
| Invengo Information |
Guilin Seamild and Invengo Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Invengo Information
The main advantage of trading using opposite Guilin Seamild and Invengo Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Invengo Information 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 Invengo Information will offset losses from the drop in Invengo Information's long position.| Guilin Seamild vs. Zoy Home Furnishing | Guilin Seamild vs. GUOMAI Culture Media | Guilin Seamild vs. Guangdong Jinma Entertainment | Guilin Seamild vs. Arrow Home Group |
| Invengo Information vs. Anhui Deli Household | Invengo Information vs. Techshine Electronics Co | Invengo Information vs. Marssenger Kitchenware Co | Invengo Information vs. Guocheng 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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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