Correlation Between Suzhou Industrial and Sublime China
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By analyzing existing cross correlation between Suzhou Industrial Park and Sublime China Information, you can compare the effects of market volatilities on Suzhou Industrial and Sublime China 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 Suzhou Industrial with a short position of Sublime China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Industrial and Sublime China.
Diversification Opportunities for Suzhou Industrial and Sublime China
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Suzhou and Sublime is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Industrial Park and Sublime China Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sublime China Information and Suzhou Industrial 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 Suzhou Industrial Park are associated (or correlated) with Sublime China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sublime China Information has no effect on the direction of Suzhou Industrial i.e., Suzhou Industrial and Sublime China go up and down completely randomly.
Pair Corralation between Suzhou Industrial and Sublime China
Assuming the 90 days trading horizon Suzhou Industrial Park is expected to generate 1.45 times more return on investment than Sublime China. However, Suzhou Industrial is 1.45 times more volatile than Sublime China Information. It trades about 0.01 of its potential returns per unit of risk. Sublime China Information is currently generating about -0.06 per unit of risk. If you would invest 984.00 in Suzhou Industrial Park on October 15, 2024 and sell it today you would lose (28.00) from holding Suzhou Industrial Park or give up 2.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Suzhou Industrial Park vs. Sublime China Information
Performance |
| Timeline |
| Suzhou Industrial Park |
| Sublime China Information |
Suzhou Industrial and Sublime China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Industrial and Sublime China
The main advantage of trading using opposite Suzhou Industrial and Sublime China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Industrial position performs unexpectedly, Sublime China 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 Sublime China will offset losses from the drop in Sublime China's long position.| Suzhou Industrial vs. Jointo Energy Investment | Suzhou Industrial vs. Henan Shuanghui Investment | Suzhou Industrial vs. Tieling Newcity Investment | Suzhou Industrial vs. Hubei Geoway Investment |
| Sublime China vs. Beijing Yanjing Brewery | Sublime China vs. SSAW Hotels Resorts | Sublime China vs. Vats Liquor Chain | Sublime China vs. Suzhou Industrial Park |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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