Correlation Between Mango Excellent and Shandong Sinoglory
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By analyzing existing cross correlation between Mango Excellent Media and Shandong Sinoglory Health, you can compare the effects of market volatilities on Mango Excellent and Shandong Sinoglory 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 Shandong Sinoglory. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mango Excellent and Shandong Sinoglory.
Diversification Opportunities for Mango Excellent and Shandong Sinoglory
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Mango and Shandong is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Mango Excellent Media and Shandong Sinoglory Health in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shandong Sinoglory Health 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 Shandong Sinoglory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shandong Sinoglory Health has no effect on the direction of Mango Excellent i.e., Mango Excellent and Shandong Sinoglory go up and down completely randomly.
Pair Corralation between Mango Excellent and Shandong Sinoglory
Assuming the 90 days trading horizon Mango Excellent Media is expected to generate 1.35 times more return on investment than Shandong Sinoglory. However, Mango Excellent is 1.35 times more volatile than Shandong Sinoglory Health. It trades about 0.0 of its potential returns per unit of risk. Shandong Sinoglory Health is currently generating about -0.03 per unit of risk. If you would invest 3,458 in Mango Excellent Media on November 2, 2024 and sell it today you would lose (680.00) from holding Mango Excellent Media or give up 19.66% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mango Excellent Media vs. Shandong Sinoglory Health
Performance |
| Timeline |
| Mango Excellent Media |
| Shandong Sinoglory Health |
Mango Excellent and Shandong Sinoglory Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mango Excellent and Shandong Sinoglory
The main advantage of trading using opposite Mango Excellent and Shandong Sinoglory positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mango Excellent position performs unexpectedly, Shandong Sinoglory 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 Shandong Sinoglory will offset losses from the drop in Shandong Sinoglory's long position.| Mango Excellent vs. Xiandai Investment Co | Mango Excellent vs. Shanghai Yaoji Playing | Mango Excellent vs. Henan Shuanghui Investment | Mango Excellent vs. Zoje Resources Investment |
| Shandong Sinoglory vs. Weihai Honglin Electronic | Shandong Sinoglory vs. Guangdong Qunxing Toys | Shandong Sinoglory vs. Nantong Haixing Electronics | Shandong Sinoglory vs. Guangdong Ellington Electronics |
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 CEOs Directory module to screen CEOs from public companies around the world.
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