Correlation Between Bosera CMSK and Suzhou Industrial
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By analyzing existing cross correlation between Bosera CMSK Industrial and Suzhou Industrial Park, you can compare the effects of market volatilities on Bosera CMSK and Suzhou Industrial 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 Bosera CMSK with a short position of Suzhou Industrial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bosera CMSK and Suzhou Industrial.
Diversification Opportunities for Bosera CMSK and Suzhou Industrial
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bosera and Suzhou is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bosera CMSK Industrial and Suzhou Industrial Park in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou Industrial Park and Bosera CMSK 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 Bosera CMSK Industrial are associated (or correlated) with Suzhou Industrial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou Industrial Park has no effect on the direction of Bosera CMSK i.e., Bosera CMSK and Suzhou Industrial go up and down completely randomly.
Pair Corralation between Bosera CMSK and Suzhou Industrial
Assuming the 90 days trading horizon Bosera CMSK Industrial is expected to generate 0.15 times more return on investment than Suzhou Industrial. However, Bosera CMSK Industrial is 6.56 times less risky than Suzhou Industrial. It trades about 0.38 of its potential returns per unit of risk. Suzhou Industrial Park is currently generating about -0.05 per unit of risk. If you would invest 199.00 in Bosera CMSK Industrial on October 25, 2024 and sell it today you would earn a total of 18.00 from holding Bosera CMSK Industrial or generate 9.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bosera CMSK Industrial vs. Suzhou Industrial Park
Performance |
| Timeline |
| Bosera CMSK Industrial |
| Suzhou Industrial Park |
Bosera CMSK and Suzhou Industrial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bosera CMSK and Suzhou Industrial
The main advantage of trading using opposite Bosera CMSK and Suzhou Industrial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bosera CMSK position performs unexpectedly, Suzhou Industrial 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 Suzhou Industrial will offset losses from the drop in Suzhou Industrial's long position.| Bosera CMSK vs. Gansu Jiu Steel | Bosera CMSK vs. Ming Yang Smart | Bosera CMSK vs. Aba Chemicals Corp | Bosera CMSK vs. Loctek Ergonomic Technology |
| Suzhou Industrial vs. Kweichow Moutai Co | Suzhou Industrial vs. Contemporary Amperex Technology | Suzhou Industrial vs. Beijing Roborock Technology | Suzhou Industrial vs. BYD Co Ltd |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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