Correlation Between Shenzhen and AUPU Home
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By analyzing existing cross correlation between Shenzhen AV Display Co and AUPU Home Style, you can compare the effects of market volatilities on Shenzhen and AUPU Home 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 Shenzhen with a short position of AUPU Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen and AUPU Home.
Diversification Opportunities for Shenzhen and AUPU Home
Poor diversification
The 3 months correlation between Shenzhen and AUPU is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen AV Display Co and AUPU Home Style in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AUPU Home Style and Shenzhen 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 Shenzhen AV Display Co are associated (or correlated) with AUPU Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AUPU Home Style has no effect on the direction of Shenzhen i.e., Shenzhen and AUPU Home go up and down completely randomly.
Pair Corralation between Shenzhen and AUPU Home
Assuming the 90 days trading horizon Shenzhen AV Display Co is expected to generate 1.52 times more return on investment than AUPU Home. However, Shenzhen is 1.52 times more volatile than AUPU Home Style. It trades about 0.02 of its potential returns per unit of risk. AUPU Home Style is currently generating about 0.01 per unit of risk. If you would invest 2,978 in Shenzhen AV Display Co on October 27, 2024 and sell it today you would earn a total of 206.00 from holding Shenzhen AV Display Co or generate 6.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen AV Display Co vs. AUPU Home Style
Performance |
| Timeline |
| Shenzhen AV Display |
| AUPU Home Style |
Shenzhen and AUPU Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen and AUPU Home
The main advantage of trading using opposite Shenzhen and AUPU Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen position performs unexpectedly, AUPU Home 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 AUPU Home will offset losses from the drop in AUPU Home's long position.| Shenzhen vs. Yindu Kitchen Equipment | Shenzhen vs. Beijing Bewinner Communications | Shenzhen vs. Bank of Communications | Shenzhen vs. Aba Chemicals Corp |
| AUPU Home vs. Qtone Education Group | AUPU Home vs. Gan Yuan Foods | AUPU Home vs. Guilin Seamild Foods | AUPU Home vs. Sanbo Hospital Management |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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