Correlation Between Guangdong Silvere and Harvest Fund
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By analyzing existing cross correlation between Guangdong Silvere Sci and Harvest Fund Management, you can compare the effects of market volatilities on Guangdong Silvere and Harvest Fund 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 Guangdong Silvere with a short position of Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangdong Silvere and Harvest Fund.
Diversification Opportunities for Guangdong Silvere and Harvest Fund
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Guangdong and Harvest is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Silvere Sci and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management and Guangdong Silvere 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 Guangdong Silvere Sci are associated (or correlated) with Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Guangdong Silvere i.e., Guangdong Silvere and Harvest Fund go up and down completely randomly.
Pair Corralation between Guangdong Silvere and Harvest Fund
Assuming the 90 days trading horizon Guangdong Silvere Sci is expected to generate 5.79 times more return on investment than Harvest Fund. However, Guangdong Silvere is 5.79 times more volatile than Harvest Fund Management. It trades about 0.16 of its potential returns per unit of risk. Harvest Fund Management is currently generating about 0.15 per unit of risk. If you would invest 617.00 in Guangdong Silvere Sci on September 4, 2024 and sell it today you would earn a total of 58.00 from holding Guangdong Silvere Sci or generate 9.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangdong Silvere Sci vs. Harvest Fund Management
Performance |
| Timeline |
| Guangdong Silvere Sci |
| Harvest Fund Management |
Guangdong Silvere and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangdong Silvere and Harvest Fund
The main advantage of trading using opposite Guangdong Silvere and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangdong Silvere position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund's long position.| Guangdong Silvere vs. Sinosteel Engineering and | Guangdong Silvere vs. Anyang Iron Steel | Guangdong Silvere vs. Jiangxi JDL Environmental | Guangdong Silvere vs. China Sports Industry |
| Harvest Fund vs. Industrial and Commercial | Harvest Fund vs. Kweichow Moutai Co | Harvest Fund vs. Agricultural Bank of | Harvest Fund 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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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