Correlation Between Guilin Seamild and AUPU Home
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By analyzing existing cross correlation between Guilin Seamild Foods and AUPU Home Style, you can compare the effects of market volatilities on Guilin Seamild and AUPU Home 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 AUPU Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and AUPU Home.
Diversification Opportunities for Guilin Seamild and AUPU Home
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Guilin and AUPU is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and AUPU Home Style in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AUPU Home Style 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 AUPU Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AUPU Home Style has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and AUPU Home go up and down completely randomly.
Pair Corralation between Guilin Seamild and AUPU Home
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 0.93 times more return on investment than AUPU Home. However, Guilin Seamild Foods is 1.08 times less risky than AUPU Home. It trades about 0.04 of its potential returns per unit of risk. AUPU Home Style is currently generating about -0.01 per unit of risk. If you would invest 1,557 in Guilin Seamild Foods on November 5, 2024 and sell it today you would earn a total of 19.00 from holding Guilin Seamild Foods or generate 1.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. AUPU Home Style
Performance |
| Timeline |
| Guilin Seamild Foods |
| AUPU Home Style |
Guilin Seamild and AUPU Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and AUPU Home
The main advantage of trading using opposite Guilin Seamild and AUPU Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, AUPU Home 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 AUPU Home will offset losses from the drop in AUPU Home's long position.| Guilin Seamild vs. Lander Sports Development | Guilin Seamild vs. Ciwen Media Co | Guilin Seamild vs. Guangdong Jinma Entertainment | Guilin Seamild vs. Changjiang Publishing Media |
| AUPU Home vs. Dongfeng Automobile Co | AUPU Home vs. Guangzhou Automobile Group | AUPU Home vs. Iat Automobile Technology | AUPU Home vs. Haima Automobile Group |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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