Correlation Between Suzhou Industrial and Dr Peng
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By analyzing existing cross correlation between Suzhou Industrial Park and Dr Peng Telecom, you can compare the effects of market volatilities on Suzhou Industrial and Dr Peng 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 Dr Peng. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Industrial and Dr Peng.
Diversification Opportunities for Suzhou Industrial and Dr Peng
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Suzhou and 600804 is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Industrial Park and Dr Peng Telecom in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dr Peng Telecom 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 Dr Peng. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dr Peng Telecom has no effect on the direction of Suzhou Industrial i.e., Suzhou Industrial and Dr Peng go up and down completely randomly.
Pair Corralation between Suzhou Industrial and Dr Peng
Assuming the 90 days trading horizon Suzhou Industrial Park is expected to generate 1.52 times more return on investment than Dr Peng. However, Suzhou Industrial is 1.52 times more volatile than Dr Peng Telecom. It trades about 0.08 of its potential returns per unit of risk. Dr Peng Telecom is currently generating about -0.09 per unit of risk. If you would invest 987.00 in Suzhou Industrial Park on October 12, 2024 and sell it today you would earn a total of 66.00 from holding Suzhou Industrial Park or generate 6.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Suzhou Industrial Park vs. Dr Peng Telecom
Performance |
| Timeline |
| Suzhou Industrial Park |
| Dr Peng Telecom |
Suzhou Industrial and Dr Peng Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Industrial and Dr Peng
The main advantage of trading using opposite Suzhou Industrial and Dr Peng positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Industrial position performs unexpectedly, Dr Peng 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 Dr Peng will offset losses from the drop in Dr Peng's long position.| Suzhou Industrial vs. Dr Peng Telecom | Suzhou Industrial vs. Mengtian Home Group | Suzhou Industrial vs. Markor International Home | Suzhou Industrial vs. Bank of Communications |
| Dr Peng vs. Industrial and Commercial | Dr Peng vs. Kweichow Moutai Co | Dr Peng vs. Agricultural Bank of | Dr Peng vs. China Mobile Limited |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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