Correlation Between Shenzhen Bioeasy and 5I5j Holding
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By analyzing existing cross correlation between Shenzhen Bioeasy Biotechnology and 5I5j Holding Group, you can compare the effects of market volatilities on Shenzhen Bioeasy and 5I5j Holding 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 Bioeasy with a short position of 5I5j Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Bioeasy and 5I5j Holding.
Diversification Opportunities for Shenzhen Bioeasy and 5I5j Holding
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Shenzhen and 5I5j is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Bioeasy Biotechnology and 5I5j Holding Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 5I5j Holding Group and Shenzhen Bioeasy 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 Bioeasy Biotechnology are associated (or correlated) with 5I5j Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 5I5j Holding Group has no effect on the direction of Shenzhen Bioeasy i.e., Shenzhen Bioeasy and 5I5j Holding go up and down completely randomly.
Pair Corralation between Shenzhen Bioeasy and 5I5j Holding
Assuming the 90 days trading horizon Shenzhen Bioeasy Biotechnology is expected to under-perform the 5I5j Holding. In addition to that, Shenzhen Bioeasy is 1.09 times more volatile than 5I5j Holding Group. It trades about 0.0 of its total potential returns per unit of risk. 5I5j Holding Group is currently generating about 0.12 per unit of volatility. If you would invest 290.00 in 5I5j Holding Group on November 6, 2024 and sell it today you would earn a total of 14.00 from holding 5I5j Holding Group or generate 4.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen Bioeasy Biotechnology vs. 5I5j Holding Group
Performance |
| Timeline |
| Shenzhen Bioeasy Bio |
| 5I5j Holding Group |
Shenzhen Bioeasy and 5I5j Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Bioeasy and 5I5j Holding
The main advantage of trading using opposite Shenzhen Bioeasy and 5I5j Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Bioeasy position performs unexpectedly, 5I5j Holding 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 5I5j Holding will offset losses from the drop in 5I5j Holding's long position.| Shenzhen Bioeasy vs. Kweichow Moutai Co | Shenzhen Bioeasy vs. G bits Network Technology | Shenzhen Bioeasy vs. Anhui Gujing Distillery | Shenzhen Bioeasy vs. Anhui Gujing Distillery |
| 5I5j Holding vs. Time Publishing and | 5I5j Holding vs. Smartgiant Technology Co | 5I5j Holding vs. China World Trade | 5I5j Holding vs. Beijing Kaiwen Education |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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