Correlation Between Gifore Agricultural and CSG Holding
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By analyzing existing cross correlation between Gifore Agricultural Machinery and CSG Holding Co, you can compare the effects of market volatilities on Gifore Agricultural and CSG Holding 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 Gifore Agricultural with a short position of CSG Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gifore Agricultural and CSG Holding.
Diversification Opportunities for Gifore Agricultural and CSG Holding
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Gifore and CSG is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding Gifore Agricultural Machinery and CSG Holding Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSG Holding and Gifore Agricultural 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 Gifore Agricultural Machinery are associated (or correlated) with CSG Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSG Holding has no effect on the direction of Gifore Agricultural i.e., Gifore Agricultural and CSG Holding go up and down completely randomly.
Pair Corralation between Gifore Agricultural and CSG Holding
Assuming the 90 days trading horizon Gifore Agricultural Machinery is expected to generate 2.3 times more return on investment than CSG Holding. However, Gifore Agricultural is 2.3 times more volatile than CSG Holding Co. It trades about 0.02 of its potential returns per unit of risk. CSG Holding Co is currently generating about -0.22 per unit of risk. If you would invest 494.00 in Gifore Agricultural Machinery on October 30, 2024 and sell it today you would earn a total of 0.00 from holding Gifore Agricultural Machinery or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.62% |
| Values | Daily Returns |
Gifore Agricultural Machinery vs. CSG Holding Co
Performance |
| Timeline |
| Gifore Agricultural |
| CSG Holding |
Gifore Agricultural and CSG Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gifore Agricultural and CSG Holding
The main advantage of trading using opposite Gifore Agricultural and CSG Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gifore Agricultural position performs unexpectedly, CSG Holding 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 CSG Holding will offset losses from the drop in CSG Holding's long position.| Gifore Agricultural vs. Agricultural Bank of | Gifore Agricultural vs. Industrial and Commercial | Gifore Agricultural vs. Bank of China | Gifore Agricultural vs. China Construction Bank |
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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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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