Correlation Between GUOMAI Culture and Shenzhen Bioeasy
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By analyzing existing cross correlation between GUOMAI Culture Media and Shenzhen Bioeasy Biotechnology, you can compare the effects of market volatilities on GUOMAI Culture and Shenzhen Bioeasy 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 Shenzhen Bioeasy. Check out your portfolio center. Please also check ongoing floating volatility patterns of GUOMAI Culture and Shenzhen Bioeasy.
Diversification Opportunities for GUOMAI Culture and Shenzhen Bioeasy
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between GUOMAI and Shenzhen is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding GUOMAI Culture Media and Shenzhen Bioeasy Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Bioeasy Bio 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 Shenzhen Bioeasy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Bioeasy Bio has no effect on the direction of GUOMAI Culture i.e., GUOMAI Culture and Shenzhen Bioeasy go up and down completely randomly.
Pair Corralation between GUOMAI Culture and Shenzhen Bioeasy
Assuming the 90 days trading horizon GUOMAI Culture Media is expected to under-perform the Shenzhen Bioeasy. In addition to that, GUOMAI Culture is 1.16 times more volatile than Shenzhen Bioeasy Biotechnology. It trades about -0.32 of its total potential returns per unit of risk. Shenzhen Bioeasy Biotechnology is currently generating about -0.27 per unit of volatility. If you would invest 1,007 in Shenzhen Bioeasy Biotechnology on October 11, 2024 and sell it today you would lose (179.00) from holding Shenzhen Bioeasy Biotechnology or give up 17.78% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
GUOMAI Culture Media vs. Shenzhen Bioeasy Biotechnology
Performance |
| Timeline |
| GUOMAI Culture Media |
| Shenzhen Bioeasy Bio |
GUOMAI Culture and Shenzhen Bioeasy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GUOMAI Culture and Shenzhen Bioeasy
The main advantage of trading using opposite GUOMAI Culture and Shenzhen Bioeasy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GUOMAI Culture position performs unexpectedly, Shenzhen Bioeasy 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 Shenzhen Bioeasy will offset losses from the drop in Shenzhen Bioeasy's long position.| GUOMAI Culture vs. Guangzhou KingTeller Technology | GUOMAI Culture vs. Dhc Software Co | GUOMAI Culture vs. Sinofibers Technology Co | GUOMAI Culture vs. Hangzhou Arcvideo Technology |
| Shenzhen Bioeasy vs. GUOMAI Culture Media | Shenzhen Bioeasy vs. China Publishing Media | Shenzhen Bioeasy vs. Guangzhou Jinyi Media | Shenzhen Bioeasy vs. JiShi Media Co |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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