Correlation Between Contemporary Amperex and Guilin Seamild
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By analyzing existing cross correlation between Contemporary Amperex Technology and Guilin Seamild Foods, you can compare the effects of market volatilities on Contemporary Amperex and Guilin Seamild 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 Contemporary Amperex with a short position of Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Contemporary Amperex and Guilin Seamild.
Diversification Opportunities for Contemporary Amperex and Guilin Seamild
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Contemporary and Guilin is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Contemporary Amperex Technolog and Guilin Seamild Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guilin Seamild Foods and Contemporary Amperex 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 Contemporary Amperex Technology are associated (or correlated) with Guilin Seamild. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guilin Seamild Foods has no effect on the direction of Contemporary Amperex i.e., Contemporary Amperex and Guilin Seamild go up and down completely randomly.
Pair Corralation between Contemporary Amperex and Guilin Seamild
Assuming the 90 days trading horizon Contemporary Amperex Technology is expected to generate 1.03 times more return on investment than Guilin Seamild. However, Contemporary Amperex is 1.03 times more volatile than Guilin Seamild Foods. It trades about 0.02 of its potential returns per unit of risk. Guilin Seamild Foods is currently generating about 0.02 per unit of risk. If you would invest 24,054 in Contemporary Amperex Technology on November 5, 2024 and sell it today you would earn a total of 1,646 from holding Contemporary Amperex Technology or generate 6.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Contemporary Amperex Technolog vs. Guilin Seamild Foods
Performance |
| Timeline |
| Contemporary Amperex |
| Guilin Seamild Foods |
Contemporary Amperex and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Contemporary Amperex and Guilin Seamild
The main advantage of trading using opposite Contemporary Amperex and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Contemporary Amperex position performs unexpectedly, Guilin Seamild 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 Guilin Seamild will offset losses from the drop in Guilin Seamild's long position.| Contemporary Amperex vs. China Everbright Bank | Contemporary Amperex vs. Runjian Communication Co | Contemporary Amperex vs. HeNan Splendor Science | Contemporary Amperex vs. Industrial Bank Co |
| Guilin Seamild vs. Lander Sports Development | Guilin Seamild vs. Ciwen Media Co | Guilin Seamild vs. Guangdong Jinma Entertainment | Guilin Seamild vs. Changjiang Publishing Media |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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