Correlation Between Guilin Seamild and Bloomage Biotechnology
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By analyzing existing cross correlation between Guilin Seamild Foods and Bloomage Biotechnology Corp, you can compare the effects of market volatilities on Guilin Seamild and Bloomage Biotechnology 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 Bloomage Biotechnology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Bloomage Biotechnology.
Diversification Opportunities for Guilin Seamild and Bloomage Biotechnology
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Guilin and Bloomage is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Bloomage Biotechnology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bloomage Biotechnology 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 Bloomage Biotechnology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bloomage Biotechnology has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Bloomage Biotechnology go up and down completely randomly.
Pair Corralation between Guilin Seamild and Bloomage Biotechnology
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 2.07 times more return on investment than Bloomage Biotechnology. However, Guilin Seamild is 2.07 times more volatile than Bloomage Biotechnology Corp. It trades about 0.13 of its potential returns per unit of risk. Bloomage Biotechnology Corp is currently generating about -0.43 per unit of risk. If you would invest 1,462 in Guilin Seamild Foods on October 7, 2024 and sell it today you would earn a total of 141.00 from holding Guilin Seamild Foods or generate 9.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Bloomage Biotechnology Corp
Performance |
| Timeline |
| Guilin Seamild Foods |
| Bloomage Biotechnology |
Guilin Seamild and Bloomage Biotechnology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Bloomage Biotechnology
The main advantage of trading using opposite Guilin Seamild and Bloomage Biotechnology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Bloomage Biotechnology 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 Bloomage Biotechnology will offset losses from the drop in Bloomage Biotechnology's long position.| Guilin Seamild vs. China Petroleum Chemical | Guilin Seamild vs. PetroChina Co Ltd | Guilin Seamild vs. China Railway Construction | Guilin Seamild vs. China Mobile Limited |
| Bloomage Biotechnology vs. Zijin Mining Group | Bloomage Biotechnology vs. Wanhua Chemical Group | Bloomage Biotechnology vs. Baoshan Iron Steel | Bloomage Biotechnology vs. Hoshine Silicon Ind |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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