Correlation Between Guilin Seamild and Shanghai Sanyou
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By analyzing existing cross correlation between Guilin Seamild Foods and Shanghai Sanyou Medical, you can compare the effects of market volatilities on Guilin Seamild and Shanghai Sanyou 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 Shanghai Sanyou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Shanghai Sanyou.
Diversification Opportunities for Guilin Seamild and Shanghai Sanyou
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Guilin and Shanghai is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Shanghai Sanyou Medical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Sanyou Medical 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 Shanghai Sanyou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Sanyou Medical has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Shanghai Sanyou go up and down completely randomly.
Pair Corralation between Guilin Seamild and Shanghai Sanyou
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 0.92 times more return on investment than Shanghai Sanyou. However, Guilin Seamild Foods is 1.08 times less risky than Shanghai Sanyou. It trades about 0.06 of its potential returns per unit of risk. Shanghai Sanyou Medical is currently generating about 0.04 per unit of risk. If you would invest 1,301 in Guilin Seamild Foods on October 18, 2024 and sell it today you would earn a total of 307.00 from holding Guilin Seamild Foods or generate 23.6% 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. Shanghai Sanyou Medical
Performance |
| Timeline |
| Guilin Seamild Foods |
| Shanghai Sanyou Medical |
Guilin Seamild and Shanghai Sanyou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Shanghai Sanyou
The main advantage of trading using opposite Guilin Seamild and Shanghai Sanyou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Shanghai Sanyou 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 Shanghai Sanyou will offset losses from the drop in Shanghai Sanyou's long position.| Guilin Seamild vs. Shannon Semiconductor Technology | Guilin Seamild vs. Ziel Home Furnishing | Guilin Seamild vs. Vohringer Home Technology | Guilin Seamild vs. Giantec Semiconductor Corp |
| Shanghai Sanyou vs. Iat Automobile Technology | Shanghai Sanyou vs. Cultural Investment Holdings | Shanghai Sanyou vs. Metro Investment Development | Shanghai Sanyou vs. Sinomach Automobile 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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