Correlation Between Guilin Seamild and Peoples Insurance
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By analyzing existing cross correlation between Guilin Seamild Foods and Peoples Insurance of, you can compare the effects of market volatilities on Guilin Seamild and Peoples Insurance 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 Peoples Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Peoples Insurance.
Diversification Opportunities for Guilin Seamild and Peoples Insurance
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Guilin and Peoples is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Peoples Insurance of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peoples Insurance 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 Peoples Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Peoples Insurance has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Peoples Insurance go up and down completely randomly.
Pair Corralation between Guilin Seamild and Peoples Insurance
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 3.19 times more return on investment than Peoples Insurance. However, Guilin Seamild is 3.19 times more volatile than Peoples Insurance of. It trades about 0.05 of its potential returns per unit of risk. Peoples Insurance of is currently generating about 0.02 per unit of risk. If you would invest 1,567 in Guilin Seamild Foods on November 29, 2024 and sell it today you would earn a total of 26.00 from holding Guilin Seamild Foods or generate 1.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Peoples Insurance of
Performance |
| Timeline |
| Guilin Seamild Foods |
| Peoples Insurance |
Guilin Seamild and Peoples Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Peoples Insurance
The main advantage of trading using opposite Guilin Seamild and Peoples Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Peoples Insurance 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 Peoples Insurance will offset losses from the drop in Peoples Insurance's long position.| Guilin Seamild vs. Shaanxi Construction Machinery | Guilin Seamild vs. Beijing HuaYuanYiTong Thermal | Guilin Seamild vs. Zhejiang Yongjin Metal | Guilin Seamild vs. Long Yuan Construction |
| Peoples Insurance vs. Dymatic Chemicals | Peoples Insurance vs. Liaoning Dingjide Petrochemical | Peoples Insurance vs. Lianhe Chemical Technology | Peoples Insurance vs. China Reform Health |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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