Correlation Between Sanbo Hospital and Integrated Electronic
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By analyzing existing cross correlation between Sanbo Hospital Management and Integrated Electronic Systems, you can compare the effects of market volatilities on Sanbo Hospital and Integrated Electronic 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 Integrated Electronic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sanbo Hospital and Integrated Electronic.
Diversification Opportunities for Sanbo Hospital and Integrated Electronic
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sanbo and Integrated is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Sanbo Hospital Management and Integrated Electronic Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integrated Electronic 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 Integrated Electronic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integrated Electronic has no effect on the direction of Sanbo Hospital i.e., Sanbo Hospital and Integrated Electronic go up and down completely randomly.
Pair Corralation between Sanbo Hospital and Integrated Electronic
Assuming the 90 days trading horizon Sanbo Hospital Management is expected to under-perform the Integrated Electronic. But the stock apears to be less risky and, when comparing its historical volatility, Sanbo Hospital Management is 1.1 times less risky than Integrated Electronic. The stock trades about -0.05 of its potential returns per unit of risk. The Integrated Electronic Systems is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest 700.00 in Integrated Electronic Systems on November 6, 2024 and sell it today you would lose (42.00) from holding Integrated Electronic Systems or give up 6.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sanbo Hospital Management vs. Integrated Electronic Systems
Performance |
| Timeline |
| Sanbo Hospital Management |
| Integrated Electronic |
Sanbo Hospital and Integrated Electronic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sanbo Hospital and Integrated Electronic
The main advantage of trading using opposite Sanbo Hospital and Integrated Electronic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sanbo Hospital position performs unexpectedly, Integrated Electronic 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 Integrated Electronic will offset losses from the drop in Integrated Electronic'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 |
| Integrated Electronic vs. CIMC Vehicles Co | Integrated Electronic vs. Postal Savings Bank | Integrated Electronic vs. Luyin Investment Group | Integrated Electronic vs. Guangzhou Automobile 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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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