Correlation Between Sanbo Hospital and Vanfund Urban
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By analyzing existing cross correlation between Sanbo Hospital Management and Vanfund Urban Investment, you can compare the effects of market volatilities on Sanbo Hospital and Vanfund Urban 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 Vanfund Urban. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sanbo Hospital and Vanfund Urban.
Diversification Opportunities for Sanbo Hospital and Vanfund Urban
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Sanbo and Vanfund is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Sanbo Hospital Management and Vanfund Urban Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vanfund Urban Investment 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 Vanfund Urban. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vanfund Urban Investment has no effect on the direction of Sanbo Hospital i.e., Sanbo Hospital and Vanfund Urban go up and down completely randomly.
Pair Corralation between Sanbo Hospital and Vanfund Urban
Assuming the 90 days trading horizon Sanbo Hospital is expected to generate 1.05 times less return on investment than Vanfund Urban. In addition to that, Sanbo Hospital is 1.08 times more volatile than Vanfund Urban Investment. It trades about 0.09 of its total potential returns per unit of risk. Vanfund Urban Investment is currently generating about 0.1 per unit of volatility. If you would invest 512.00 in Vanfund Urban Investment on August 29, 2024 and sell it today you would earn a total of 36.00 from holding Vanfund Urban Investment or generate 7.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sanbo Hospital Management vs. Vanfund Urban Investment
Performance |
| Timeline |
| Sanbo Hospital Management |
| Vanfund Urban Investment |
Sanbo Hospital and Vanfund Urban Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sanbo Hospital and Vanfund Urban
The main advantage of trading using opposite Sanbo Hospital and Vanfund Urban positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sanbo Hospital position performs unexpectedly, Vanfund Urban 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 Vanfund Urban will offset losses from the drop in Vanfund Urban's long position.| Sanbo Hospital vs. Ming Yang Smart | Sanbo Hospital vs. 159681 | Sanbo Hospital vs. 159005 | Sanbo Hospital vs. Loctek Ergonomic Technology |
| Vanfund Urban vs. HaiXin Foods Co | Vanfund Urban vs. Juewei Food Co | Vanfund Urban vs. Touchstone International Medical | Vanfund Urban vs. Jiajia Food Group |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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