Correlation Between Guilin Seamild and Zhongjing Food
Specify exactly 2 symbols:
By analyzing existing cross correlation between Guilin Seamild Foods and Zhongjing Food Co, you can compare the effects of market volatilities on Guilin Seamild and Zhongjing Food 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 Zhongjing Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Zhongjing Food.
Diversification Opportunities for Guilin Seamild and Zhongjing Food
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Guilin and Zhongjing is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Zhongjing Food Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhongjing Food 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 Zhongjing Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhongjing Food has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Zhongjing Food go up and down completely randomly.
Pair Corralation between Guilin Seamild and Zhongjing Food
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to under-perform the Zhongjing Food. In addition to that, Guilin Seamild is 1.58 times more volatile than Zhongjing Food Co. It trades about -0.03 of its total potential returns per unit of risk. Zhongjing Food Co is currently generating about 0.06 per unit of volatility. If you would invest 2,968 in Zhongjing Food Co on November 4, 2024 and sell it today you would earn a total of 41.00 from holding Zhongjing Food Co or generate 1.38% 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. Zhongjing Food Co
Performance |
| Timeline |
| Guilin Seamild Foods |
| Zhongjing Food |
Guilin Seamild and Zhongjing Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Zhongjing Food
The main advantage of trading using opposite Guilin Seamild and Zhongjing Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Zhongjing Food 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 Zhongjing Food will offset losses from the drop in Zhongjing Food's long position.| Guilin Seamild vs. Sportsoul Co Ltd | Guilin Seamild vs. Ningbo Ligong Online | Guilin Seamild vs. Hubeiyichang Transportation Group | Guilin Seamild vs. Lander Sports Development |
| Zhongjing Food vs. Maxvision Technology Corp | Zhongjing Food vs. Strait Innovation Internet | Zhongjing Food vs. ROPEOK Technology Group | Zhongjing Food vs. Tianjin Hi Tech Development |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Other Complementary Tools
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Stocks Directory Find actively traded stocks across global markets | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |