Correlation Between Porton Fine and GRG Banking
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By analyzing existing cross correlation between Porton Fine Chemicals and GRG Banking Equipment, you can compare the effects of market volatilities on Porton Fine and GRG Banking 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 Porton Fine with a short position of GRG Banking. Check out your portfolio center. Please also check ongoing floating volatility patterns of Porton Fine and GRG Banking.
Diversification Opportunities for Porton Fine and GRG Banking
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Porton and GRG is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Porton Fine Chemicals and GRG Banking Equipment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GRG Banking Equipment and Porton Fine 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 Porton Fine Chemicals are associated (or correlated) with GRG Banking. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GRG Banking Equipment has no effect on the direction of Porton Fine i.e., Porton Fine and GRG Banking go up and down completely randomly.
Pair Corralation between Porton Fine and GRG Banking
Assuming the 90 days trading horizon Porton Fine Chemicals is expected to under-perform the GRG Banking. In addition to that, Porton Fine is 1.44 times more volatile than GRG Banking Equipment. It trades about -0.05 of its total potential returns per unit of risk. GRG Banking Equipment is currently generating about 0.02 per unit of volatility. If you would invest 980.00 in GRG Banking Equipment on October 11, 2024 and sell it today you would earn a total of 95.00 from holding GRG Banking Equipment or generate 9.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Porton Fine Chemicals vs. GRG Banking Equipment
Performance |
| Timeline |
| Porton Fine Chemicals |
| GRG Banking Equipment |
Porton Fine and GRG Banking Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Porton Fine and GRG Banking
The main advantage of trading using opposite Porton Fine and GRG Banking positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Porton Fine position performs unexpectedly, GRG Banking 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 GRG Banking will offset losses from the drop in GRG Banking's long position.| Porton Fine vs. Hubei Forbon Technology | Porton Fine vs. Soyea Technology Co | Porton Fine vs. Ningbo Kangqiang Electronics | Porton Fine vs. Jinlong Machinery Electronic |
| GRG Banking vs. Jiangsu Yueda Investment | GRG Banking vs. Shenzhen Clou Electronics | GRG Banking vs. Hangzhou Arcvideo Technology | GRG Banking vs. Beijing YanDong MicroElectronic |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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