Correlation Between SSAW Hotels and Gansu Huangtai
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By analyzing existing cross correlation between SSAW Hotels Resorts and Gansu Huangtai Wine marketing, you can compare the effects of market volatilities on SSAW Hotels and Gansu Huangtai 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 SSAW Hotels with a short position of Gansu Huangtai. Check out your portfolio center. Please also check ongoing floating volatility patterns of SSAW Hotels and Gansu Huangtai.
Diversification Opportunities for SSAW Hotels and Gansu Huangtai
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between SSAW and Gansu is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding SSAW Hotels Resorts and Gansu Huangtai Wine marketing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gansu Huangtai Wine and SSAW Hotels 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 SSAW Hotels Resorts are associated (or correlated) with Gansu Huangtai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gansu Huangtai Wine has no effect on the direction of SSAW Hotels i.e., SSAW Hotels and Gansu Huangtai go up and down completely randomly.
Pair Corralation between SSAW Hotels and Gansu Huangtai
Assuming the 90 days trading horizon SSAW Hotels Resorts is expected to generate 0.66 times more return on investment than Gansu Huangtai. However, SSAW Hotels Resorts is 1.52 times less risky than Gansu Huangtai. It trades about 0.1 of its potential returns per unit of risk. Gansu Huangtai Wine marketing is currently generating about -0.03 per unit of risk. If you would invest 1,883 in SSAW Hotels Resorts on November 6, 2024 and sell it today you would earn a total of 75.00 from holding SSAW Hotels Resorts or generate 3.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SSAW Hotels Resorts vs. Gansu Huangtai Wine marketing
Performance |
| Timeline |
| SSAW Hotels Resorts |
| Gansu Huangtai Wine |
SSAW Hotels and Gansu Huangtai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SSAW Hotels and Gansu Huangtai
The main advantage of trading using opposite SSAW Hotels and Gansu Huangtai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SSAW Hotels position performs unexpectedly, Gansu Huangtai 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 Gansu Huangtai will offset losses from the drop in Gansu Huangtai's long position.| SSAW Hotels vs. Qifeng New Material | SSAW Hotels vs. Giantec Semiconductor Corp | SSAW Hotels vs. Zbit Semiconductor A | SSAW Hotels vs. Shenzhen Cotran New |
| Gansu Huangtai vs. HMTNew Technical | Gansu Huangtai vs. Guocheng Mining Co | Gansu Huangtai vs. HanS Laser Tech | Gansu Huangtai vs. Shandong Polymer Biochemicals |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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