Correlation Between COL Digital and CSG Holding
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By analyzing existing cross correlation between COL Digital Publishing and CSG Holding Co, you can compare the effects of market volatilities on COL Digital and CSG Holding 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 COL Digital with a short position of CSG Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of COL Digital and CSG Holding.
Diversification Opportunities for COL Digital and CSG Holding
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between COL and CSG is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding COL Digital Publishing and CSG Holding Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSG Holding and COL Digital 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 COL Digital Publishing are associated (or correlated) with CSG Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSG Holding has no effect on the direction of COL Digital i.e., COL Digital and CSG Holding go up and down completely randomly.
Pair Corralation between COL Digital and CSG Holding
Assuming the 90 days trading horizon COL Digital Publishing is expected to generate 4.06 times more return on investment than CSG Holding. However, COL Digital is 4.06 times more volatile than CSG Holding Co. It trades about 0.07 of its potential returns per unit of risk. CSG Holding Co is currently generating about -0.03 per unit of risk. If you would invest 977.00 in COL Digital Publishing on August 27, 2024 and sell it today you would earn a total of 1,806 from holding COL Digital Publishing or generate 184.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
COL Digital Publishing vs. CSG Holding Co
Performance |
| Timeline |
| COL Digital Publishing |
| CSG Holding |
COL Digital and CSG Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with COL Digital and CSG Holding
The main advantage of trading using opposite COL Digital and CSG Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if COL Digital position performs unexpectedly, CSG Holding 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 CSG Holding will offset losses from the drop in CSG Holding's long position.| COL Digital vs. Jointo Energy Investment | COL Digital vs. Hubei Geoway Investment | COL Digital vs. Harbin Hatou Investment | COL Digital vs. Harvest Fund Management |
| CSG Holding vs. Zijin Mining Group | CSG Holding vs. Wanhua Chemical Group | CSG Holding vs. Baoshan Iron Steel | CSG Holding vs. Shandong Gold Mining |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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