Correlation Between Guilin Seamild and Beijing Kaiwen
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By analyzing existing cross correlation between Guilin Seamild Foods and Beijing Kaiwen Education, you can compare the effects of market volatilities on Guilin Seamild and Beijing Kaiwen 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 Beijing Kaiwen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Beijing Kaiwen.
Diversification Opportunities for Guilin Seamild and Beijing Kaiwen
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Guilin and Beijing is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Beijing Kaiwen Education in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Kaiwen Education 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 Beijing Kaiwen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Kaiwen Education has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Beijing Kaiwen go up and down completely randomly.
Pair Corralation between Guilin Seamild and Beijing Kaiwen
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 0.84 times more return on investment than Beijing Kaiwen. However, Guilin Seamild Foods is 1.19 times less risky than Beijing Kaiwen. It trades about -0.09 of its potential returns per unit of risk. Beijing Kaiwen Education is currently generating about -0.32 per unit of risk. If you would invest 1,732 in Guilin Seamild Foods on October 17, 2024 and sell it today you would lose (125.00) from holding Guilin Seamild Foods or give up 7.22% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Beijing Kaiwen Education
Performance |
| Timeline |
| Guilin Seamild Foods |
| Beijing Kaiwen Education |
Guilin Seamild and Beijing Kaiwen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Beijing Kaiwen
The main advantage of trading using opposite Guilin Seamild and Beijing Kaiwen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Beijing Kaiwen 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 Beijing Kaiwen will offset losses from the drop in Beijing Kaiwen's long position.| Guilin Seamild vs. Shannon Semiconductor Technology | Guilin Seamild vs. Ziel Home Furnishing | Guilin Seamild vs. Vohringer Home Technology | Guilin Seamild vs. Giantec Semiconductor Corp |
| Beijing Kaiwen vs. JuneYao Dairy Co | Beijing Kaiwen vs. Giantec Semiconductor Corp | Beijing Kaiwen vs. Qingdao Foods Co | Beijing Kaiwen vs. Guilin Seamild Foods |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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