Correlation Between Guangdong Wens and Bank of Suzhou
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By analyzing existing cross correlation between Guangdong Wens Foodstuff and Bank of Suzhou, you can compare the effects of market volatilities on Guangdong Wens and Bank of Suzhou 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 Guangdong Wens with a short position of Bank of Suzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangdong Wens and Bank of Suzhou.
Diversification Opportunities for Guangdong Wens and Bank of Suzhou
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Guangdong and Bank is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Wens Foodstuff and Bank of Suzhou in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank of Suzhou and Guangdong Wens 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 Guangdong Wens Foodstuff are associated (or correlated) with Bank of Suzhou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank of Suzhou has no effect on the direction of Guangdong Wens i.e., Guangdong Wens and Bank of Suzhou go up and down completely randomly.
Pair Corralation between Guangdong Wens and Bank of Suzhou
Assuming the 90 days trading horizon Guangdong Wens Foodstuff is expected to under-perform the Bank of Suzhou. In addition to that, Guangdong Wens is 1.32 times more volatile than Bank of Suzhou. It trades about -0.03 of its total potential returns per unit of risk. Bank of Suzhou is currently generating about 0.06 per unit of volatility. If you would invest 683.00 in Bank of Suzhou on October 14, 2024 and sell it today you would earn a total of 121.00 from holding Bank of Suzhou or generate 17.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangdong Wens Foodstuff vs. Bank of Suzhou
Performance |
| Timeline |
| Guangdong Wens Foodstuff |
| Bank of Suzhou |
Guangdong Wens and Bank of Suzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangdong Wens and Bank of Suzhou
The main advantage of trading using opposite Guangdong Wens and Bank of Suzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangdong Wens position performs unexpectedly, Bank of Suzhou 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 Bank of Suzhou will offset losses from the drop in Bank of Suzhou's long position.| Guangdong Wens vs. Digiwin Software Co | Guangdong Wens vs. Gansu Huangtai Wine marketing | Guangdong Wens vs. Glodon Software Co | Guangdong Wens vs. Fujian Boss Software |
| Bank of Suzhou vs. Sichuan Fulin Transportation | Bank of Suzhou vs. Emdoor Information Co | Bank of Suzhou vs. Sublime China Information | Bank of Suzhou vs. Jinxiandai Information Industry |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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