Correlation Between Guilin Seamild and Winner Medical
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By analyzing existing cross correlation between Guilin Seamild Foods and Winner Medical Co, you can compare the effects of market volatilities on Guilin Seamild and Winner Medical 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 Winner Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Winner Medical.
Diversification Opportunities for Guilin Seamild and Winner Medical
0.98 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Guilin and Winner is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Winner Medical Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Winner Medical 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 Winner Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Winner Medical has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Winner Medical go up and down completely randomly.
Pair Corralation between Guilin Seamild and Winner Medical
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 1.01 times more return on investment than Winner Medical. However, Guilin Seamild is 1.01 times more volatile than Winner Medical Co. It trades about 0.01 of its potential returns per unit of risk. Winner Medical Co is currently generating about -0.01 per unit of risk. If you would invest 1,506 in Guilin Seamild Foods on October 16, 2024 and sell it today you would earn a total of 21.00 from holding Guilin Seamild Foods or generate 1.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Winner Medical Co
Performance |
| Timeline |
| Guilin Seamild Foods |
| Winner Medical |
Guilin Seamild and Winner Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Winner Medical
The main advantage of trading using opposite Guilin Seamild and Winner Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Winner Medical 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 Winner Medical will offset losses from the drop in Winner Medical'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 |
| Winner Medical vs. Jiugui Liquor Co | Winner Medical vs. Guilin Seamild Foods | Winner Medical vs. Fujian Anjoy Foods | Winner Medical vs. Fuda Alloy Materials |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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