Correlation Between Shijiazhuang Tonhe and Cultural Investment
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By analyzing existing cross correlation between Shijiazhuang Tonhe Electronics and Cultural Investment Holdings, you can compare the effects of market volatilities on Shijiazhuang Tonhe and Cultural Investment 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 Shijiazhuang Tonhe with a short position of Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shijiazhuang Tonhe and Cultural Investment.
Diversification Opportunities for Shijiazhuang Tonhe and Cultural Investment
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between Shijiazhuang and Cultural is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding Shijiazhuang Tonhe Electronics and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural Investment and Shijiazhuang Tonhe 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 Shijiazhuang Tonhe Electronics are associated (or correlated) with Cultural Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cultural Investment has no effect on the direction of Shijiazhuang Tonhe i.e., Shijiazhuang Tonhe and Cultural Investment go up and down completely randomly.
Pair Corralation between Shijiazhuang Tonhe and Cultural Investment
Assuming the 90 days trading horizon Shijiazhuang Tonhe is expected to generate 1.03 times less return on investment than Cultural Investment. In addition to that, Shijiazhuang Tonhe is 1.28 times more volatile than Cultural Investment Holdings. It trades about 0.07 of its total potential returns per unit of risk. Cultural Investment Holdings is currently generating about 0.1 per unit of volatility. If you would invest 155.00 in Cultural Investment Holdings on November 3, 2024 and sell it today you would earn a total of 54.00 from holding Cultural Investment Holdings or generate 34.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shijiazhuang Tonhe Electronics vs. Cultural Investment Holdings
Performance |
| Timeline |
| Shijiazhuang Tonhe |
| Cultural Investment |
Shijiazhuang Tonhe and Cultural Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shijiazhuang Tonhe and Cultural Investment
The main advantage of trading using opposite Shijiazhuang Tonhe and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shijiazhuang Tonhe position performs unexpectedly, Cultural Investment 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 Cultural Investment will offset losses from the drop in Cultural Investment's long position.| Shijiazhuang Tonhe vs. Industrial and Commercial | Shijiazhuang Tonhe vs. Kweichow Moutai Co | Shijiazhuang Tonhe vs. Agricultural Bank of | Shijiazhuang Tonhe vs. China Mobile Limited |
| Cultural Investment vs. Suzhou Weizhixiang Food | Cultural Investment vs. Guizhou Chanhen Chemical | Cultural Investment vs. Gan Yuan Foods | Cultural Investment vs. Bsm Chemical 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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