Correlation Between Shantou Wanshun and Eastroc Beverage
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By analyzing existing cross correlation between Shantou Wanshun Package and Eastroc Beverage Group, you can compare the effects of market volatilities on Shantou Wanshun and Eastroc Beverage 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 Shantou Wanshun with a short position of Eastroc Beverage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shantou Wanshun and Eastroc Beverage.
Diversification Opportunities for Shantou Wanshun and Eastroc Beverage
-0.8 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Shantou and Eastroc is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding Shantou Wanshun Package and Eastroc Beverage Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eastroc Beverage and Shantou Wanshun 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 Shantou Wanshun Package are associated (or correlated) with Eastroc Beverage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eastroc Beverage has no effect on the direction of Shantou Wanshun i.e., Shantou Wanshun and Eastroc Beverage go up and down completely randomly.
Pair Corralation between Shantou Wanshun and Eastroc Beverage
Assuming the 90 days trading horizon Shantou Wanshun is expected to generate 1.05 times less return on investment than Eastroc Beverage. In addition to that, Shantou Wanshun is 1.68 times more volatile than Eastroc Beverage Group. It trades about 0.06 of its total potential returns per unit of risk. Eastroc Beverage Group is currently generating about 0.11 per unit of volatility. If you would invest 18,132 in Eastroc Beverage Group on October 18, 2024 and sell it today you would earn a total of 5,471 from holding Eastroc Beverage Group or generate 30.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shantou Wanshun Package vs. Eastroc Beverage Group
Performance |
| Timeline |
| Shantou Wanshun Package |
| Eastroc Beverage |
Shantou Wanshun and Eastroc Beverage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shantou Wanshun and Eastroc Beverage
The main advantage of trading using opposite Shantou Wanshun and Eastroc Beverage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shantou Wanshun position performs unexpectedly, Eastroc Beverage 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 Eastroc Beverage will offset losses from the drop in Eastroc Beverage's long position.| Shantou Wanshun vs. China Mobile Limited | Shantou Wanshun vs. Tongyu Communication | Shantou Wanshun vs. Fibocom Wireless | Shantou Wanshun vs. Sinomach Automobile Co |
| Eastroc Beverage vs. Harbin Hatou Investment | Eastroc Beverage vs. Chongqing Brewery Co | Eastroc Beverage vs. Easyhome New Retail | Eastroc Beverage vs. Shanghai Yaoji Playing |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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