Correlation Between Hangzhou Gaoxin and AECC Aviation
Specify exactly 2 symbols:
By analyzing existing cross correlation between Hangzhou Gaoxin Rubber and AECC Aviation Power, you can compare the effects of market volatilities on Hangzhou Gaoxin and AECC Aviation 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 Hangzhou Gaoxin with a short position of AECC Aviation. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hangzhou Gaoxin and AECC Aviation.
Diversification Opportunities for Hangzhou Gaoxin and AECC Aviation
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Hangzhou and AECC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hangzhou Gaoxin Rubber and AECC Aviation Power in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AECC Aviation Power and Hangzhou Gaoxin 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 Hangzhou Gaoxin Rubber are associated (or correlated) with AECC Aviation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AECC Aviation Power has no effect on the direction of Hangzhou Gaoxin i.e., Hangzhou Gaoxin and AECC Aviation go up and down completely randomly.
Pair Corralation between Hangzhou Gaoxin and AECC Aviation
If you would invest 740.00 in Hangzhou Gaoxin Rubber on October 7, 2024 and sell it today you would earn a total of 91.00 from holding Hangzhou Gaoxin Rubber or generate 12.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Hangzhou Gaoxin Rubber vs. AECC Aviation Power
Performance |
| Timeline |
| Hangzhou Gaoxin Rubber |
| AECC Aviation Power |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Hangzhou Gaoxin and AECC Aviation Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hangzhou Gaoxin and AECC Aviation
The main advantage of trading using opposite Hangzhou Gaoxin and AECC Aviation positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hangzhou Gaoxin position performs unexpectedly, AECC Aviation 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 AECC Aviation will offset losses from the drop in AECC Aviation's long position.| Hangzhou Gaoxin vs. Zijin Mining Group | Hangzhou Gaoxin vs. Wanhua Chemical Group | Hangzhou Gaoxin vs. Baoshan Iron Steel | Hangzhou Gaoxin vs. Rongsheng Petrochemical Co |
| AECC Aviation vs. Mango Excellent Media | AECC Aviation vs. Sichuan Newsnet Media | AECC Aviation vs. Fujian Anjoy Foods | AECC Aviation vs. Hengdian Entertainment Co |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments |