Correlation Between Bank of Suzhou and Chengdu Spaceon
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By analyzing existing cross correlation between Bank of Suzhou and Chengdu Spaceon Electronics, you can compare the effects of market volatilities on Bank of Suzhou and Chengdu Spaceon 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 Bank of Suzhou with a short position of Chengdu Spaceon. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank of Suzhou and Chengdu Spaceon.
Diversification Opportunities for Bank of Suzhou and Chengdu Spaceon
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Bank and Chengdu is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Bank of Suzhou and Chengdu Spaceon Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chengdu Spaceon Elec and Bank of Suzhou 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 Bank of Suzhou are associated (or correlated) with Chengdu Spaceon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chengdu Spaceon Elec has no effect on the direction of Bank of Suzhou i.e., Bank of Suzhou and Chengdu Spaceon go up and down completely randomly.
Pair Corralation between Bank of Suzhou and Chengdu Spaceon
Assuming the 90 days trading horizon Bank of Suzhou is expected to generate 0.54 times more return on investment than Chengdu Spaceon. However, Bank of Suzhou is 1.84 times less risky than Chengdu Spaceon. It trades about 0.03 of its potential returns per unit of risk. Chengdu Spaceon Electronics is currently generating about 0.0 per unit of risk. If you would invest 684.00 in Bank of Suzhou on October 16, 2024 and sell it today you would earn a total of 106.00 from holding Bank of Suzhou or generate 15.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bank of Suzhou vs. Chengdu Spaceon Electronics
Performance |
| Timeline |
| Bank of Suzhou |
| Chengdu Spaceon Elec |
Bank of Suzhou and Chengdu Spaceon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank of Suzhou and Chengdu Spaceon
The main advantage of trading using opposite Bank of Suzhou and Chengdu Spaceon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank of Suzhou position performs unexpectedly, Chengdu Spaceon 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 Chengdu Spaceon will offset losses from the drop in Chengdu Spaceon's long position.| Bank of Suzhou vs. Threes Company Media | Bank of Suzhou vs. Anhui Xinhua Media | Bank of Suzhou vs. Shuhua Sports Co | Bank of Suzhou vs. HanS Laser Tech |
| Chengdu Spaceon vs. Jiangxi Naipu Mining | Chengdu Spaceon vs. China Life Insurance | Chengdu Spaceon vs. Aba Chemicals Corp | Chengdu Spaceon vs. Chengtun Mining 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 CEOs Directory module to screen CEOs from public companies around the world.
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