Correlation Between GUOMAI Culture and Bus Online
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By analyzing existing cross correlation between GUOMAI Culture Media and Bus Online Co, you can compare the effects of market volatilities on GUOMAI Culture and Bus Online 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 GUOMAI Culture with a short position of Bus Online. Check out your portfolio center. Please also check ongoing floating volatility patterns of GUOMAI Culture and Bus Online.
Diversification Opportunities for GUOMAI Culture and Bus Online
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between GUOMAI and Bus is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding GUOMAI Culture Media and Bus Online Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bus Online and GUOMAI Culture 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 GUOMAI Culture Media are associated (or correlated) with Bus Online. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bus Online has no effect on the direction of GUOMAI Culture i.e., GUOMAI Culture and Bus Online go up and down completely randomly.
Pair Corralation between GUOMAI Culture and Bus Online
Assuming the 90 days trading horizon GUOMAI Culture Media is expected to generate 1.02 times more return on investment than Bus Online. However, GUOMAI Culture is 1.02 times more volatile than Bus Online Co. It trades about 0.0 of its potential returns per unit of risk. Bus Online Co is currently generating about -0.18 per unit of risk. If you would invest 2,688 in GUOMAI Culture Media on October 28, 2024 and sell it today you would lose (33.00) from holding GUOMAI Culture Media or give up 1.23% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
GUOMAI Culture Media vs. Bus Online Co
Performance |
| Timeline |
| GUOMAI Culture Media |
| Bus Online |
GUOMAI Culture and Bus Online Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GUOMAI Culture and Bus Online
The main advantage of trading using opposite GUOMAI Culture and Bus Online positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GUOMAI Culture position performs unexpectedly, Bus Online 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 Bus Online will offset losses from the drop in Bus Online's long position.| GUOMAI Culture vs. Longjian Road Bridge | GUOMAI Culture vs. Hainan Haiqi Transportation | GUOMAI Culture vs. Cabio Biotech Wuhan | GUOMAI Culture vs. Road Environment Technology |
| Bus Online vs. Holitech Technology Co | Bus Online vs. Gome Telecom Equipment | Bus Online vs. Cultural Investment Holdings | Bus Online vs. Danhua Chemical Technology |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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