Correlation Between Sharetronic Data and Zhongfu Information
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By analyzing existing cross correlation between Sharetronic Data Technology and Zhongfu Information, you can compare the effects of market volatilities on Sharetronic Data and Zhongfu Information 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 Zhongfu Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sharetronic Data and Zhongfu Information.
Diversification Opportunities for Sharetronic Data and Zhongfu Information
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Sharetronic and Zhongfu is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Sharetronic Data Technology and Zhongfu Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhongfu Information 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 Zhongfu Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhongfu Information has no effect on the direction of Sharetronic Data i.e., Sharetronic Data and Zhongfu Information go up and down completely randomly.
Pair Corralation between Sharetronic Data and Zhongfu Information
Assuming the 90 days trading horizon Sharetronic Data Technology is expected to generate 1.02 times more return on investment than Zhongfu Information. However, Sharetronic Data is 1.02 times more volatile than Zhongfu Information. It trades about 0.1 of its potential returns per unit of risk. Zhongfu Information is currently generating about 0.03 per unit of risk. If you would invest 5,504 in Sharetronic Data Technology on October 12, 2024 and sell it today you would earn a total of 4,923 from holding Sharetronic Data Technology or generate 89.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sharetronic Data Technology vs. Zhongfu Information
Performance |
| Timeline |
| Sharetronic Data Tec |
| Zhongfu Information |
Sharetronic Data and Zhongfu Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sharetronic Data and Zhongfu Information
The main advantage of trading using opposite Sharetronic Data and Zhongfu Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sharetronic Data position performs unexpectedly, Zhongfu Information 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 Zhongfu Information will offset losses from the drop in Zhongfu Information's long position.| Sharetronic Data vs. TianJin 712 Communication | Sharetronic Data vs. Guangxi Wuzhou Communications | Sharetronic Data vs. Nanjing Putian Telecommunications | Sharetronic Data vs. Guosheng Financial Holding |
| Zhongfu Information vs. Dawning Information Industry | Zhongfu Information vs. Chahua Modern Housewares | Zhongfu Information vs. Sublime China Information | Zhongfu Information vs. Wonders Information |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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