Correlation Between Sanbo Hospital and Shenzhen Clou
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By analyzing existing cross correlation between Sanbo Hospital Management and Shenzhen Clou Electronics, you can compare the effects of market volatilities on Sanbo Hospital and Shenzhen Clou 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 Shenzhen Clou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sanbo Hospital and Shenzhen Clou.
Diversification Opportunities for Sanbo Hospital and Shenzhen Clou
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sanbo and Shenzhen is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Sanbo Hospital Management and Shenzhen Clou Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Clou Electronics 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 Shenzhen Clou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Clou Electronics has no effect on the direction of Sanbo Hospital i.e., Sanbo Hospital and Shenzhen Clou go up and down completely randomly.
Pair Corralation between Sanbo Hospital and Shenzhen Clou
Assuming the 90 days trading horizon Sanbo Hospital Management is expected to generate 1.18 times more return on investment than Shenzhen Clou. However, Sanbo Hospital is 1.18 times more volatile than Shenzhen Clou Electronics. It trades about 0.17 of its potential returns per unit of risk. Shenzhen Clou Electronics is currently generating about -0.09 per unit of risk. If you would invest 4,157 in Sanbo Hospital Management on November 6, 2024 and sell it today you would earn a total of 243.00 from holding Sanbo Hospital Management or generate 5.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sanbo Hospital Management vs. Shenzhen Clou Electronics
Performance |
| Timeline |
| Sanbo Hospital Management |
| Shenzhen Clou Electronics |
Sanbo Hospital and Shenzhen Clou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sanbo Hospital and Shenzhen Clou
The main advantage of trading using opposite Sanbo Hospital and Shenzhen Clou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sanbo Hospital position performs unexpectedly, Shenzhen Clou 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 Shenzhen Clou will offset losses from the drop in Shenzhen Clou's long position.| Sanbo Hospital vs. China Asset Management | Sanbo Hospital vs. Guangdong Jinma Entertainment | Sanbo Hospital vs. GUOMAI Culture Media | Sanbo Hospital vs. Chengdu B ray Media |
| Shenzhen Clou vs. Hubeiyichang Transportation Group | Shenzhen Clou vs. Inspur Software Co | Shenzhen Clou vs. Beijing Yanjing Brewery | Shenzhen Clou vs. Shenzhen Urban Transport |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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