Correlation Between 159005 and China Marine
Specify exactly 2 symbols:
By analyzing existing cross correlation between 159005 and China Marine Information, you can compare the effects of market volatilities on 159005 and China Marine 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 159005 with a short position of China Marine. Check out your portfolio center. Please also check ongoing floating volatility patterns of 159005 and China Marine.
Diversification Opportunities for 159005 and China Marine
0.84 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between 159005 and China is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding 159005 and China Marine Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Marine Information and 159005 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 159005 are associated (or correlated) with China Marine. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Marine Information has no effect on the direction of 159005 i.e., 159005 and China Marine go up and down completely randomly.
Pair Corralation between 159005 and China Marine
If you would invest 10,000 in 159005 on September 1, 2024 and sell it today you would earn a total of 0.00 from holding 159005 or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
159005 vs. China Marine Information
Performance |
| Timeline |
| 159005 |
| China Marine Information |
159005 and China Marine Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 159005 and China Marine
The main advantage of trading using opposite 159005 and China Marine positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 159005 position performs unexpectedly, China Marine 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 China Marine will offset losses from the drop in China Marine's long position.| 159005 vs. Shenzhen MTC Co | 159005 vs. Ming Yang Smart | 159005 vs. 159681 | 159005 vs. Loctek Ergonomic Technology |
| China Marine vs. Ming Yang Smart | China Marine vs. 159681 | China Marine vs. 159005 | China Marine vs. Loctek Ergonomic Technology |
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 Stocks Directory module to find actively traded stocks across global markets.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Transaction History View history of all your transactions and understand their impact on performance |