Correlation Between Sanbo Hospital and China Vanke
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By analyzing existing cross correlation between Sanbo Hospital Management and China Vanke Co, you can compare the effects of market volatilities on Sanbo Hospital and China Vanke 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 Sanbo Hospital with a short position of China Vanke. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sanbo Hospital and China Vanke.
Diversification Opportunities for Sanbo Hospital and China Vanke
0.78 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sanbo and China is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding Sanbo Hospital Management and China Vanke Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Vanke and Sanbo Hospital 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 Sanbo Hospital Management are associated (or correlated) with China Vanke. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Vanke has no effect on the direction of Sanbo Hospital i.e., Sanbo Hospital and China Vanke go up and down completely randomly.
Pair Corralation between Sanbo Hospital and China Vanke
Assuming the 90 days trading horizon Sanbo Hospital Management is expected to generate 1.32 times more return on investment than China Vanke. However, Sanbo Hospital is 1.32 times more volatile than China Vanke Co. It trades about 0.0 of its potential returns per unit of risk. China Vanke Co is currently generating about -0.03 per unit of risk. If you would invest 5,977 in Sanbo Hospital Management on September 12, 2024 and sell it today you would lose (1,001) from holding Sanbo Hospital Management or give up 16.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sanbo Hospital Management vs. China Vanke Co
Performance |
| Timeline |
| Sanbo Hospital Management |
| China Vanke |
Sanbo Hospital and China Vanke Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sanbo Hospital and China Vanke
The main advantage of trading using opposite Sanbo Hospital and China Vanke positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sanbo Hospital position performs unexpectedly, China Vanke 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 China Vanke will offset losses from the drop in China Vanke's long position.| Sanbo Hospital vs. Cultural Investment Holdings | Sanbo Hospital vs. Gome Telecom Equipment | Sanbo Hospital vs. Holitech Technology Co | Sanbo Hospital vs. Zotye Automobile Co |
| China Vanke vs. Sichuan Jinshi Technology | China Vanke vs. Xinjiang Communications Construction | China Vanke vs. Linewell Software Co | China Vanke vs. Tianjin Hi Tech Development |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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