Correlation Between Guilin Seamild and Tibet Huayu
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By analyzing existing cross correlation between Guilin Seamild Foods and Tibet Huayu Mining, you can compare the effects of market volatilities on Guilin Seamild and Tibet Huayu 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 Tibet Huayu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Tibet Huayu.
Diversification Opportunities for Guilin Seamild and Tibet Huayu
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Guilin and Tibet is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Tibet Huayu Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tibet Huayu Mining 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 Tibet Huayu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tibet Huayu Mining has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Tibet Huayu go up and down completely randomly.
Pair Corralation between Guilin Seamild and Tibet Huayu
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to under-perform the Tibet Huayu. But the stock apears to be less risky and, when comparing its historical volatility, Guilin Seamild Foods is 1.04 times less risky than Tibet Huayu. The stock trades about -0.03 of its potential returns per unit of risk. The Tibet Huayu Mining is currently generating about 0.32 of returns per unit of risk over similar time horizon. If you would invest 1,213 in Tibet Huayu Mining on November 4, 2024 and sell it today you would earn a total of 168.00 from holding Tibet Huayu Mining or generate 13.85% 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. Tibet Huayu Mining
Performance |
| Timeline |
| Guilin Seamild Foods |
| Tibet Huayu Mining |
Guilin Seamild and Tibet Huayu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Tibet Huayu
The main advantage of trading using opposite Guilin Seamild and Tibet Huayu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Tibet Huayu 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 Tibet Huayu will offset losses from the drop in Tibet Huayu'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 |
| Tibet Huayu vs. Spring Airlines Co | Tibet Huayu vs. Tongyu Communication | Tibet Huayu vs. Beijing Seeyon Internet | Tibet Huayu vs. Bangyan Technology 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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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