Correlation Between Anhui Shiny and Suzhou Douson
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By analyzing existing cross correlation between Anhui Shiny Electronic and Suzhou Douson Drilling, you can compare the effects of market volatilities on Anhui Shiny and Suzhou Douson 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 Suzhou Douson. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Shiny and Suzhou Douson.
Diversification Opportunities for Anhui Shiny and Suzhou Douson
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Anhui and Suzhou is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Shiny Electronic and Suzhou Douson Drilling in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou Douson Drilling 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 Suzhou Douson. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou Douson Drilling has no effect on the direction of Anhui Shiny i.e., Anhui Shiny and Suzhou Douson go up and down completely randomly.
Pair Corralation between Anhui Shiny and Suzhou Douson
Assuming the 90 days trading horizon Anhui Shiny Electronic is expected to generate 1.05 times more return on investment than Suzhou Douson. However, Anhui Shiny is 1.05 times more volatile than Suzhou Douson Drilling. It trades about 0.15 of its potential returns per unit of risk. Suzhou Douson Drilling is currently generating about -0.01 per unit of risk. If you would invest 1,880 in Anhui Shiny Electronic on October 10, 2024 and sell it today you would earn a total of 238.00 from holding Anhui Shiny Electronic or generate 12.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Shiny Electronic vs. Suzhou Douson Drilling
Performance |
| Timeline |
| Anhui Shiny Electronic |
| Suzhou Douson Drilling |
Anhui Shiny and Suzhou Douson Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Shiny and Suzhou Douson
The main advantage of trading using opposite Anhui Shiny and Suzhou Douson positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Shiny position performs unexpectedly, Suzhou Douson 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 Suzhou Douson will offset losses from the drop in Suzhou Douson's long position.| Anhui Shiny vs. Omnijoi Media Corp | Anhui Shiny vs. Rising Nonferrous Metals | Anhui Shiny vs. Western Metal Materials | Anhui Shiny vs. Heilongjiang Publishing Media |
| Suzhou Douson vs. Northern United Publishing | Suzhou Douson vs. Offcn Education Technology | Suzhou Douson vs. Shaanxi Broadcast TV | Suzhou Douson vs. Jiangsu Phoenix Publishing |
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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