Correlation Between Mango Excellent and Guosheng Financial
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By analyzing existing cross correlation between Mango Excellent Media and Guosheng Financial Holding, you can compare the effects of market volatilities on Mango Excellent and Guosheng Financial 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 Mango Excellent with a short position of Guosheng Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mango Excellent and Guosheng Financial.
Diversification Opportunities for Mango Excellent and Guosheng Financial
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Mango and Guosheng is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Mango Excellent Media and Guosheng Financial Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guosheng Financial and Mango Excellent 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 Mango Excellent Media are associated (or correlated) with Guosheng Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guosheng Financial has no effect on the direction of Mango Excellent i.e., Mango Excellent and Guosheng Financial go up and down completely randomly.
Pair Corralation between Mango Excellent and Guosheng Financial
Assuming the 90 days trading horizon Mango Excellent Media is expected to under-perform the Guosheng Financial. But the stock apears to be less risky and, when comparing its historical volatility, Mango Excellent Media is 1.93 times less risky than Guosheng Financial. The stock trades about -0.16 of its potential returns per unit of risk. The Guosheng Financial Holding is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 1,357 in Guosheng Financial Holding on October 23, 2024 and sell it today you would earn a total of 4.00 from holding Guosheng Financial Holding or generate 0.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mango Excellent Media vs. Guosheng Financial Holding
Performance |
| Timeline |
| Mango Excellent Media |
| Guosheng Financial |
Mango Excellent and Guosheng Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mango Excellent and Guosheng Financial
The main advantage of trading using opposite Mango Excellent and Guosheng Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mango Excellent position performs unexpectedly, Guosheng Financial 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 Guosheng Financial will offset losses from the drop in Guosheng Financial's long position.| Mango Excellent vs. Anhui Jianghuai Automobile | Mango Excellent vs. Dongfeng Automobile Co | Mango Excellent vs. Jiangsu Xinri E Vehicle | Mango Excellent vs. Suzhou Oriental Semiconductor |
| Guosheng Financial vs. China Eastern Airlines | Guosheng Financial vs. Gem Year Industrial Co | Guosheng Financial vs. Sichuan Yahua Industrial | Guosheng Financial vs. Mango Excellent Media |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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