Correlation Between Suzhou Maxwell and Shenzhen SDG
Specify exactly 2 symbols:
By analyzing existing cross correlation between Suzhou Maxwell Technologies and Shenzhen SDG Information, you can compare the effects of market volatilities on Suzhou Maxwell and Shenzhen SDG 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 Suzhou Maxwell with a short position of Shenzhen SDG. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Maxwell and Shenzhen SDG.
Diversification Opportunities for Suzhou Maxwell and Shenzhen SDG
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Suzhou and Shenzhen is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Maxwell Technologies and Shenzhen SDG Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen SDG Information and Suzhou Maxwell 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 Suzhou Maxwell Technologies are associated (or correlated) with Shenzhen SDG. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen SDG Information has no effect on the direction of Suzhou Maxwell i.e., Suzhou Maxwell and Shenzhen SDG go up and down completely randomly.
Pair Corralation between Suzhou Maxwell and Shenzhen SDG
Assuming the 90 days trading horizon Suzhou Maxwell is expected to generate 8.65 times less return on investment than Shenzhen SDG. In addition to that, Suzhou Maxwell is 1.1 times more volatile than Shenzhen SDG Information. It trades about 0.06 of its total potential returns per unit of risk. Shenzhen SDG Information is currently generating about 0.59 per unit of volatility. If you would invest 562.00 in Shenzhen SDG Information on November 27, 2024 and sell it today you would earn a total of 87.00 from holding Shenzhen SDG Information or generate 15.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Suzhou Maxwell Technologies vs. Shenzhen SDG Information
Performance |
| Timeline |
| Suzhou Maxwell Techn |
| Shenzhen SDG Information |
Suzhou Maxwell and Shenzhen SDG Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Maxwell and Shenzhen SDG
The main advantage of trading using opposite Suzhou Maxwell and Shenzhen SDG positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Maxwell position performs unexpectedly, Shenzhen SDG 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 SDG will offset losses from the drop in Shenzhen SDG's long position.| Suzhou Maxwell vs. Shandong Sinoglory Health | Suzhou Maxwell vs. Zhangjiagang Freetrade Science | Suzhou Maxwell vs. Andon Health Co | Suzhou Maxwell vs. Heren Health Co |
| Shenzhen SDG vs. China Mobile Limited | Shenzhen SDG vs. Huizhou Speed Wireless | Shenzhen SDG vs. China World Trade | Shenzhen SDG vs. Shandong Longquan Pipeline |
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.
Other Complementary Tools
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |