Correlation Between Sanbo Hospital and De Rucci
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By analyzing existing cross correlation between Sanbo Hospital Management and De Rucci Healthy, you can compare the effects of market volatilities on Sanbo Hospital and De Rucci 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 De Rucci. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sanbo Hospital and De Rucci.
Diversification Opportunities for Sanbo Hospital and De Rucci
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Sanbo and 001323 is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Sanbo Hospital Management and De Rucci Healthy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on De Rucci Healthy 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 De Rucci. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of De Rucci Healthy has no effect on the direction of Sanbo Hospital i.e., Sanbo Hospital and De Rucci go up and down completely randomly.
Pair Corralation between Sanbo Hospital and De Rucci
Assuming the 90 days trading horizon Sanbo Hospital Management is expected to generate 1.67 times more return on investment than De Rucci. However, Sanbo Hospital is 1.67 times more volatile than De Rucci Healthy. It trades about 0.17 of its potential returns per unit of risk. De Rucci Healthy is currently generating about 0.22 per unit of risk. If you would invest 3,217 in Sanbo Hospital Management on August 29, 2024 and sell it today you would earn a total of 1,478 from holding Sanbo Hospital Management or generate 45.94% 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. De Rucci Healthy
Performance |
| Timeline |
| Sanbo Hospital Management |
| De Rucci Healthy |
Sanbo Hospital and De Rucci Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sanbo Hospital and De Rucci
The main advantage of trading using opposite Sanbo Hospital and De Rucci positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sanbo Hospital position performs unexpectedly, De Rucci 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 De Rucci will offset losses from the drop in De Rucci's long position.| Sanbo Hospital vs. Industrial and Commercial | Sanbo Hospital vs. China Construction Bank | Sanbo Hospital vs. Agricultural Bank of | Sanbo Hospital vs. Bank of China |
| De Rucci vs. Agricultural Bank of | De Rucci vs. Industrial and Commercial | De Rucci vs. Bank of China | De Rucci vs. China Construction Bank |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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