Correlation Between Shenzhen Bingchuan and CSG Holding
Specify exactly 2 symbols:
By analyzing existing cross correlation between Shenzhen Bingchuan Network and CSG Holding Co, you can compare the effects of market volatilities on Shenzhen Bingchuan and CSG Holding 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 Shenzhen Bingchuan with a short position of CSG Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Bingchuan and CSG Holding.
Diversification Opportunities for Shenzhen Bingchuan and CSG Holding
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Shenzhen and CSG is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Bingchuan Network and CSG Holding Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSG Holding and Shenzhen Bingchuan 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 Shenzhen Bingchuan Network are associated (or correlated) with CSG Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSG Holding has no effect on the direction of Shenzhen Bingchuan i.e., Shenzhen Bingchuan and CSG Holding go up and down completely randomly.
Pair Corralation between Shenzhen Bingchuan and CSG Holding
Assuming the 90 days trading horizon Shenzhen Bingchuan Network is expected to generate 3.38 times more return on investment than CSG Holding. However, Shenzhen Bingchuan is 3.38 times more volatile than CSG Holding Co. It trades about 0.09 of its potential returns per unit of risk. CSG Holding Co is currently generating about -0.02 per unit of risk. If you would invest 1,440 in Shenzhen Bingchuan Network on October 22, 2024 and sell it today you would earn a total of 631.00 from holding Shenzhen Bingchuan Network or generate 43.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen Bingchuan Network vs. CSG Holding Co
Performance |
| Timeline |
| Shenzhen Bingchuan |
| CSG Holding |
Shenzhen Bingchuan and CSG Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Bingchuan and CSG Holding
The main advantage of trading using opposite Shenzhen Bingchuan and CSG Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Bingchuan position performs unexpectedly, CSG Holding 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 CSG Holding will offset losses from the drop in CSG Holding's long position.| Shenzhen Bingchuan vs. Rising Nonferrous Metals | Shenzhen Bingchuan vs. Jahen Household Products | Shenzhen Bingchuan vs. Ye Chiu Metal | Shenzhen Bingchuan vs. Jiangsu Financial Leasing |
| CSG Holding vs. Anhui Shiny Electronic | CSG Holding vs. Leyard Optoelectronic | CSG Holding vs. Techshine Electronics Co | CSG Holding vs. Dongguan Tarry 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |