Correlation Between Guangdong Silvere and China Sports
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By analyzing existing cross correlation between Guangdong Silvere Sci and China Sports Industry, you can compare the effects of market volatilities on Guangdong Silvere and China Sports 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 China Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangdong Silvere and China Sports.
Diversification Opportunities for Guangdong Silvere and China Sports
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Guangdong and China is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Silvere Sci and China Sports Industry in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Sports Industry 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 China Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Sports Industry has no effect on the direction of Guangdong Silvere i.e., Guangdong Silvere and China Sports go up and down completely randomly.
Pair Corralation between Guangdong Silvere and China Sports
Assuming the 90 days trading horizon Guangdong Silvere Sci is expected to under-perform the China Sports. In addition to that, Guangdong Silvere is 1.79 times more volatile than China Sports Industry. It trades about -0.06 of its total potential returns per unit of risk. China Sports Industry is currently generating about -0.01 per unit of volatility. If you would invest 822.00 in China Sports Industry on August 28, 2024 and sell it today you would lose (8.00) from holding China Sports Industry or give up 0.97% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangdong Silvere Sci vs. China Sports Industry
Performance |
| Timeline |
| Guangdong Silvere Sci |
| China Sports Industry |
Guangdong Silvere and China Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangdong Silvere and China Sports
The main advantage of trading using opposite Guangdong Silvere and China Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangdong Silvere position performs unexpectedly, China Sports 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 China Sports will offset losses from the drop in China Sports' long position.| Guangdong Silvere vs. Zijin Mining Group | Guangdong Silvere vs. Wanhua Chemical Group | Guangdong Silvere vs. Baoshan Iron Steel | Guangdong Silvere vs. Shandong Gold Mining |
| China Sports vs. Industrial and Commercial | China Sports vs. China Construction Bank | China Sports vs. Bank of China | China Sports vs. Agricultural Bank of |
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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