Correlation Between SSAW Hotels and Holitech Technology
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By analyzing existing cross correlation between SSAW Hotels Resorts and Holitech Technology Co, you can compare the effects of market volatilities on SSAW Hotels and Holitech Technology 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 Holitech Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of SSAW Hotels and Holitech Technology.
Diversification Opportunities for SSAW Hotels and Holitech Technology
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between SSAW and Holitech is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding SSAW Hotels Resorts and Holitech Technology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Holitech Technology 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 Holitech Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Holitech Technology has no effect on the direction of SSAW Hotels i.e., SSAW Hotels and Holitech Technology go up and down completely randomly.
Pair Corralation between SSAW Hotels and Holitech Technology
Assuming the 90 days trading horizon SSAW Hotels Resorts is expected to under-perform the Holitech Technology. But the stock apears to be less risky and, when comparing its historical volatility, SSAW Hotels Resorts is 1.07 times less risky than Holitech Technology. The stock trades about -0.36 of its potential returns per unit of risk. The Holitech Technology Co is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest 227.00 in Holitech Technology Co on October 17, 2024 and sell it today you would lose (19.00) from holding Holitech Technology Co or give up 8.37% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SSAW Hotels Resorts vs. Holitech Technology Co
Performance |
| Timeline |
| SSAW Hotels Resorts |
| Holitech Technology |
SSAW Hotels and Holitech Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SSAW Hotels and Holitech Technology
The main advantage of trading using opposite SSAW Hotels and Holitech Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SSAW Hotels position performs unexpectedly, Holitech Technology 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 Holitech Technology will offset losses from the drop in Holitech Technology's long position.| SSAW Hotels vs. Tianshan Aluminum Group | SSAW Hotels vs. Chengtun Mining Group | SSAW Hotels vs. Anhui Tongguan Copper | SSAW Hotels vs. Hainan Mining Co |
| Holitech Technology vs. Konfoong Materials International | Holitech Technology vs. Harvest Fund Management | Holitech Technology vs. Jinsanjiang Silicon Material | Holitech Technology vs. SSAW Hotels Resorts |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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