Correlation Between Anhui Shiny and CSG Holding
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By analyzing existing cross correlation between Anhui Shiny Electronic and CSG Holding Co, you can compare the effects of market volatilities on Anhui Shiny and CSG 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 Anhui Shiny with a short position of CSG Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Shiny and CSG Holding.
Diversification Opportunities for Anhui Shiny and CSG Holding
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Anhui and CSG is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Shiny Electronic and CSG Holding Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSG Holding and Anhui Shiny 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 Anhui Shiny Electronic are associated (or correlated) with CSG Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSG Holding has no effect on the direction of Anhui Shiny i.e., Anhui Shiny and CSG Holding go up and down completely randomly.
Pair Corralation between Anhui Shiny and CSG Holding
Assuming the 90 days trading horizon Anhui Shiny Electronic is expected to generate 4.82 times more return on investment than CSG Holding. However, Anhui Shiny is 4.82 times more volatile than CSG Holding Co. It trades about 0.07 of its potential returns per unit of risk. CSG Holding Co is currently generating about 0.03 per unit of risk. If you would invest 1,311 in Anhui Shiny Electronic on October 22, 2024 and sell it today you would earn a total of 977.00 from holding Anhui Shiny Electronic or generate 74.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Shiny Electronic vs. CSG Holding Co
Performance |
| Timeline |
| Anhui Shiny Electronic |
| CSG Holding |
Anhui Shiny and CSG Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Shiny and CSG Holding
The main advantage of trading using opposite Anhui Shiny and CSG Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Shiny position performs unexpectedly, CSG 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 CSG Holding will offset losses from the drop in CSG Holding's long position.| Anhui Shiny vs. Nuode Investment Co | Anhui Shiny vs. XinJiang GuoTong Pipeline | Anhui Shiny vs. Kunwu Jiuding Investment | Anhui Shiny vs. Shenzhen Centralcon Investment |
| CSG Holding vs. Anhui Shiny Electronic | CSG Holding vs. Leyard Optoelectronic | CSG Holding vs. Techshine Electronics Co | CSG Holding vs. Dongguan Tarry Electronics |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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