Correlation Between SI TECH and Guangdong Marubi
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By analyzing existing cross correlation between SI TECH Information Technology and Guangdong Marubi Biotechnology, you can compare the effects of market volatilities on SI TECH and Guangdong Marubi 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 SI TECH with a short position of Guangdong Marubi. Check out your portfolio center. Please also check ongoing floating volatility patterns of SI TECH and Guangdong Marubi.
Diversification Opportunities for SI TECH and Guangdong Marubi
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 300608 and Guangdong is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding SI TECH Information Technology and Guangdong Marubi Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong Marubi Bio and SI TECH 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 SI TECH Information Technology are associated (or correlated) with Guangdong Marubi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong Marubi Bio has no effect on the direction of SI TECH i.e., SI TECH and Guangdong Marubi go up and down completely randomly.
Pair Corralation between SI TECH and Guangdong Marubi
Assuming the 90 days trading horizon SI TECH Information Technology is expected to under-perform the Guangdong Marubi. In addition to that, SI TECH is 1.08 times more volatile than Guangdong Marubi Biotechnology. It trades about -0.25 of its total potential returns per unit of risk. Guangdong Marubi Biotechnology is currently generating about 0.01 per unit of volatility. If you would invest 3,327 in Guangdong Marubi Biotechnology on October 18, 2024 and sell it today you would lose (26.00) from holding Guangdong Marubi Biotechnology or give up 0.78% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SI TECH Information Technology vs. Guangdong Marubi Biotechnology
Performance |
| Timeline |
| SI TECH Information |
| Guangdong Marubi Bio |
SI TECH and Guangdong Marubi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SI TECH and Guangdong Marubi
The main advantage of trading using opposite SI TECH and Guangdong Marubi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SI TECH position performs unexpectedly, Guangdong Marubi 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 Guangdong Marubi will offset losses from the drop in Guangdong Marubi's long position.| SI TECH vs. China Mobile Limited | SI TECH vs. Songz Automobile Air | SI TECH vs. Ningbo Tech Bank Co | SI TECH vs. Haima Automobile Group |
| Guangdong Marubi vs. Inspur Software Co | Guangdong Marubi vs. Guangdong Jingyi Metal | Guangdong Marubi vs. Beijing Baolande Software | Guangdong Marubi vs. Digiwin Software 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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