Correlation Between Mango Excellent and Shenyang Blue
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By analyzing existing cross correlation between Mango Excellent Media and Shenyang Blue Silver, you can compare the effects of market volatilities on Mango Excellent and Shenyang Blue 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 Shenyang Blue. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mango Excellent and Shenyang Blue.
Diversification Opportunities for Mango Excellent and Shenyang Blue
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Mango and Shenyang is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Mango Excellent Media and Shenyang Blue Silver in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenyang Blue Silver 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 Shenyang Blue. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenyang Blue Silver has no effect on the direction of Mango Excellent i.e., Mango Excellent and Shenyang Blue go up and down completely randomly.
Pair Corralation between Mango Excellent and Shenyang Blue
Assuming the 90 days trading horizon Mango Excellent Media is expected to generate 0.73 times more return on investment than Shenyang Blue. However, Mango Excellent Media is 1.37 times less risky than Shenyang Blue. It trades about -0.36 of its potential returns per unit of risk. Shenyang Blue Silver is currently generating about -0.43 per unit of risk. If you would invest 2,986 in Mango Excellent Media on October 12, 2024 and sell it today you would lose (431.00) from holding Mango Excellent Media or give up 14.43% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mango Excellent Media vs. Shenyang Blue Silver
Performance |
| Timeline |
| Mango Excellent Media |
| Shenyang Blue Silver |
Mango Excellent and Shenyang Blue Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mango Excellent and Shenyang Blue
The main advantage of trading using opposite Mango Excellent and Shenyang Blue positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mango Excellent position performs unexpectedly, Shenyang Blue 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 Shenyang Blue will offset losses from the drop in Shenyang Blue's long position.| Mango Excellent vs. Agricultural Bank of | Mango Excellent vs. Panda Financial Holding | Mango Excellent vs. Postal Savings Bank | Mango Excellent vs. China Everbright Bank |
| Shenyang Blue vs. Biwin Storage Technology | Shenyang Blue vs. PetroChina Co Ltd | Shenyang Blue vs. Industrial and Commercial | Shenyang Blue vs. China Construction Bank |
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 Valuation module to check real value of public entities based on technical and fundamental data.
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