Correlation Between Shenzhen and Zhuhai Comleader
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By analyzing existing cross correlation between Shenzhen AV Display Co and Zhuhai Comleader Information, you can compare the effects of market volatilities on Shenzhen and Zhuhai Comleader 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 Zhuhai Comleader. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen and Zhuhai Comleader.
Diversification Opportunities for Shenzhen and Zhuhai Comleader
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Shenzhen and Zhuhai is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen AV Display Co and Zhuhai Comleader Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhuhai Comleader Inf 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 Zhuhai Comleader. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhuhai Comleader Inf has no effect on the direction of Shenzhen i.e., Shenzhen and Zhuhai Comleader go up and down completely randomly.
Pair Corralation between Shenzhen and Zhuhai Comleader
Assuming the 90 days trading horizon Shenzhen AV Display Co is expected to generate 1.09 times more return on investment than Zhuhai Comleader. However, Shenzhen is 1.09 times more volatile than Zhuhai Comleader Information. It trades about 0.02 of its potential returns per unit of risk. Zhuhai Comleader Information is currently generating about -0.02 per unit of risk. If you would invest 3,044 in Shenzhen AV Display Co on October 23, 2024 and sell it today you would earn a total of 78.00 from holding Shenzhen AV Display Co or generate 2.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen AV Display Co vs. Zhuhai Comleader Information
Performance |
| Timeline |
| Shenzhen AV Display |
| Zhuhai Comleader Inf |
Shenzhen and Zhuhai Comleader Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen and Zhuhai Comleader
The main advantage of trading using opposite Shenzhen and Zhuhai Comleader positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen position performs unexpectedly, Zhuhai Comleader 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 Zhuhai Comleader will offset losses from the drop in Zhuhai Comleader's long position.| Shenzhen vs. Luyin Investment Group | Shenzhen vs. China World Trade | Shenzhen vs. Xiandai Investment Co | Shenzhen vs. Zhongrun Resources Investment |
| Zhuhai Comleader vs. Cultural Investment Holdings | Zhuhai Comleader vs. Shandong Sanyuan Biotechnology | Zhuhai Comleader vs. Guangdong Marubi Biotechnology | Zhuhai Comleader vs. Kidswant Children Products |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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