Correlation Between Guilin Seamild and Southern PublishingMedia
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By analyzing existing cross correlation between Guilin Seamild Foods and Southern PublishingMedia Co, you can compare the effects of market volatilities on Guilin Seamild and Southern PublishingMedia 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 Southern PublishingMedia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Southern PublishingMedia.
Diversification Opportunities for Guilin Seamild and Southern PublishingMedia
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Guilin and Southern is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Southern PublishingMedia Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Southern PublishingMedia 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 Southern PublishingMedia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Southern PublishingMedia has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Southern PublishingMedia go up and down completely randomly.
Pair Corralation between Guilin Seamild and Southern PublishingMedia
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 0.64 times more return on investment than Southern PublishingMedia. However, Guilin Seamild Foods is 1.56 times less risky than Southern PublishingMedia. It trades about 0.21 of its potential returns per unit of risk. Southern PublishingMedia Co is currently generating about 0.12 per unit of risk. If you would invest 1,324 in Guilin Seamild Foods on September 3, 2024 and sell it today you would earn a total of 132.00 from holding Guilin Seamild Foods or generate 9.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Southern PublishingMedia Co
Performance |
| Timeline |
| Guilin Seamild Foods |
| Southern PublishingMedia |
Guilin Seamild and Southern PublishingMedia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Southern PublishingMedia
The main advantage of trading using opposite Guilin Seamild and Southern PublishingMedia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Southern PublishingMedia 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 Southern PublishingMedia will offset losses from the drop in Southern PublishingMedia's long position.| Guilin Seamild vs. Beijing Wantai Biological | Guilin Seamild vs. Aluminum Corp of | Guilin Seamild vs. COL Digital Publishing | Guilin Seamild vs. Shaanxi Meineng Clean |
| Southern PublishingMedia vs. Gansu Jiu Steel | Southern PublishingMedia vs. Ming Yang Smart | Southern PublishingMedia vs. Aba Chemicals Corp | Southern PublishingMedia vs. Loctek Ergonomic Technology |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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