Correlation Between BCEG Environmental and Sino Platinum
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By analyzing existing cross correlation between BCEG Environmental Remediation and Sino Platinum Metals Co, you can compare the effects of market volatilities on BCEG Environmental and Sino Platinum 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 BCEG Environmental with a short position of Sino Platinum. Check out your portfolio center. Please also check ongoing floating volatility patterns of BCEG Environmental and Sino Platinum.
Diversification Opportunities for BCEG Environmental and Sino Platinum
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BCEG and Sino is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding BCEG Environmental Remediation and Sino Platinum Metals Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sino Platinum Metals and BCEG Environmental 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 BCEG Environmental Remediation are associated (or correlated) with Sino Platinum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sino Platinum Metals has no effect on the direction of BCEG Environmental i.e., BCEG Environmental and Sino Platinum go up and down completely randomly.
Pair Corralation between BCEG Environmental and Sino Platinum
Assuming the 90 days trading horizon BCEG Environmental Remediation is expected to under-perform the Sino Platinum. In addition to that, BCEG Environmental is 1.5 times more volatile than Sino Platinum Metals Co. It trades about -0.15 of its total potential returns per unit of risk. Sino Platinum Metals Co is currently generating about -0.02 per unit of volatility. If you would invest 1,384 in Sino Platinum Metals Co on October 22, 2024 and sell it today you would lose (8.00) from holding Sino Platinum Metals Co or give up 0.58% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BCEG Environmental Remediation vs. Sino Platinum Metals Co
Performance |
| Timeline |
| BCEG Environmental |
| Sino Platinum Metals |
BCEG Environmental and Sino Platinum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BCEG Environmental and Sino Platinum
The main advantage of trading using opposite BCEG Environmental and Sino Platinum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BCEG Environmental position performs unexpectedly, Sino Platinum 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 Sino Platinum will offset losses from the drop in Sino Platinum's long position.| BCEG Environmental vs. CICC Fund Management | BCEG Environmental vs. Fujian Oriental Silver | BCEG Environmental vs. Chengdu Spaceon Electronics | BCEG Environmental vs. Shenzhen Silver Basis |
| Sino Platinum vs. Changjiang Publishing Media | Sino Platinum vs. Time Publishing and | Sino Platinum vs. Zhejiang Publishing Media | Sino Platinum vs. Shanghai Rightongene Biotechnology |
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 CEOs Directory module to screen CEOs from public companies around the world.
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