Correlation Between Bank of Suzhou and Harvest Fund
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By analyzing existing cross correlation between Bank of Suzhou and Harvest Fund Management, you can compare the effects of market volatilities on Bank of Suzhou and Harvest Fund 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 Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank of Suzhou and Harvest Fund.
Diversification Opportunities for Bank of Suzhou and Harvest Fund
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Bank and Harvest is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Bank of Suzhou and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management 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 Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Bank of Suzhou i.e., Bank of Suzhou and Harvest Fund go up and down completely randomly.
Pair Corralation between Bank of Suzhou and Harvest Fund
Assuming the 90 days trading horizon Bank of Suzhou is expected to generate 1.12 times more return on investment than Harvest Fund. However, Bank of Suzhou is 1.12 times more volatile than Harvest Fund Management. It trades about 0.03 of its potential returns per unit of risk. Harvest Fund Management is currently generating about -0.01 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 Together |
| Strength | Weak |
| Accuracy | 98.54% |
| Values | Daily Returns |
Bank of Suzhou vs. Harvest Fund Management
Performance |
| Timeline |
| Bank of Suzhou |
| Harvest Fund Management |
Bank of Suzhou and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank of Suzhou and Harvest Fund
The main advantage of trading using opposite Bank of Suzhou and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank of Suzhou position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund'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 |
| Harvest Fund vs. Easyhome New Retail | Harvest Fund vs. Bank of Communications | Harvest Fund vs. Silkroad Visual Technology | Harvest Fund vs. China Satellite Communications |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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