Correlation Between Sharetronic Data and Beijing Bewinner
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By analyzing existing cross correlation between Sharetronic Data Technology and Beijing Bewinner Communications, you can compare the effects of market volatilities on Sharetronic Data and Beijing Bewinner 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 Sharetronic Data with a short position of Beijing Bewinner. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sharetronic Data and Beijing Bewinner.
Diversification Opportunities for Sharetronic Data and Beijing Bewinner
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sharetronic and Beijing is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Sharetronic Data Technology and Beijing Bewinner Communication in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Bewinner Com and Sharetronic Data 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 Sharetronic Data Technology are associated (or correlated) with Beijing Bewinner. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Bewinner Com has no effect on the direction of Sharetronic Data i.e., Sharetronic Data and Beijing Bewinner go up and down completely randomly.
Pair Corralation between Sharetronic Data and Beijing Bewinner
Assuming the 90 days trading horizon Sharetronic Data Technology is expected to generate 1.33 times more return on investment than Beijing Bewinner. However, Sharetronic Data is 1.33 times more volatile than Beijing Bewinner Communications. It trades about 0.11 of its potential returns per unit of risk. Beijing Bewinner Communications is currently generating about 0.1 per unit of risk. If you would invest 5,328 in Sharetronic Data Technology on November 4, 2024 and sell it today you would earn a total of 3,800 from holding Sharetronic Data Technology or generate 71.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sharetronic Data Technology vs. Beijing Bewinner Communication
Performance |
| Timeline |
| Sharetronic Data Tec |
| Beijing Bewinner Com |
Sharetronic Data and Beijing Bewinner Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sharetronic Data and Beijing Bewinner
The main advantage of trading using opposite Sharetronic Data and Beijing Bewinner positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sharetronic Data position performs unexpectedly, Beijing Bewinner 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 Beijing Bewinner will offset losses from the drop in Beijing Bewinner's long position.| Sharetronic Data vs. Sinosteel Engineering and | Sharetronic Data vs. China National Software | Sharetronic Data vs. Fangda Special Steel | Sharetronic Data vs. Elite Color Environmental |
| Beijing Bewinner vs. Qiaoyin Environmental Tech | Beijing Bewinner vs. Shengyuan Environmental Protection | Beijing Bewinner vs. Qijing Machinery | Beijing Bewinner vs. Shenzhen Zqgame |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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