Correlation Between Guangzhou Haozhi and Shenzhen Centralcon
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By analyzing existing cross correlation between Guangzhou Haozhi Industrial and Shenzhen Centralcon Investment, you can compare the effects of market volatilities on Guangzhou Haozhi and Shenzhen Centralcon 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 Guangzhou Haozhi with a short position of Shenzhen Centralcon. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangzhou Haozhi and Shenzhen Centralcon.
Diversification Opportunities for Guangzhou Haozhi and Shenzhen Centralcon
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Guangzhou and Shenzhen is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Guangzhou Haozhi Industrial and Shenzhen Centralcon Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Centralcon and Guangzhou Haozhi 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 Guangzhou Haozhi Industrial are associated (or correlated) with Shenzhen Centralcon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Centralcon has no effect on the direction of Guangzhou Haozhi i.e., Guangzhou Haozhi and Shenzhen Centralcon go up and down completely randomly.
Pair Corralation between Guangzhou Haozhi and Shenzhen Centralcon
Assuming the 90 days trading horizon Guangzhou Haozhi Industrial is expected to generate 1.45 times more return on investment than Shenzhen Centralcon. However, Guangzhou Haozhi is 1.45 times more volatile than Shenzhen Centralcon Investment. It trades about 0.06 of its potential returns per unit of risk. Shenzhen Centralcon Investment is currently generating about -0.02 per unit of risk. If you would invest 940.00 in Guangzhou Haozhi Industrial on October 26, 2024 and sell it today you would earn a total of 1,391 from holding Guangzhou Haozhi Industrial or generate 147.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangzhou Haozhi Industrial vs. Shenzhen Centralcon Investment
Performance |
| Timeline |
| Guangzhou Haozhi Ind |
| Shenzhen Centralcon |
Guangzhou Haozhi and Shenzhen Centralcon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangzhou Haozhi and Shenzhen Centralcon
The main advantage of trading using opposite Guangzhou Haozhi and Shenzhen Centralcon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangzhou Haozhi position performs unexpectedly, Shenzhen Centralcon 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 Shenzhen Centralcon will offset losses from the drop in Shenzhen Centralcon's long position.| Guangzhou Haozhi vs. Kunwu Jiuding Investment | Guangzhou Haozhi vs. Nuode Investment Co | Guangzhou Haozhi vs. Zoje Resources Investment | Guangzhou Haozhi vs. Chengtun Mining Group |
| Shenzhen Centralcon vs. Agricultural Bank of | Shenzhen Centralcon vs. Industrial and Commercial | Shenzhen Centralcon vs. Bank of China | Shenzhen Centralcon 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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