Correlation Between Sanbo Hospital and Huasi Agricultural
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sanbo Hospital Management and Huasi Agricultural Development, you can compare the effects of market volatilities on Sanbo Hospital and Huasi Agricultural 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 Huasi Agricultural. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sanbo Hospital and Huasi Agricultural.
Diversification Opportunities for Sanbo Hospital and Huasi Agricultural
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sanbo and Huasi is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Sanbo Hospital Management and Huasi Agricultural Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huasi Agricultural 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 Huasi Agricultural. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huasi Agricultural has no effect on the direction of Sanbo Hospital i.e., Sanbo Hospital and Huasi Agricultural go up and down completely randomly.
Pair Corralation between Sanbo Hospital and Huasi Agricultural
Assuming the 90 days trading horizon Sanbo Hospital Management is expected to generate 0.8 times more return on investment than Huasi Agricultural. However, Sanbo Hospital Management is 1.25 times less risky than Huasi Agricultural. It trades about 0.17 of its potential returns per unit of risk. Huasi Agricultural Development is currently generating about 0.04 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 | 94.12% |
| Values | Daily Returns |
Sanbo Hospital Management vs. Huasi Agricultural Development
Performance |
| Timeline |
| Sanbo Hospital Management |
| Huasi Agricultural |
Sanbo Hospital and Huasi Agricultural Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sanbo Hospital and Huasi Agricultural
The main advantage of trading using opposite Sanbo Hospital and Huasi Agricultural positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sanbo Hospital position performs unexpectedly, Huasi Agricultural 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 Huasi Agricultural will offset losses from the drop in Huasi Agricultural'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 |
| Huasi Agricultural vs. Kidswant Children Products | Huasi Agricultural vs. Sharetronic Data Technology | Huasi Agricultural vs. Postal Savings Bank | Huasi Agricultural vs. Lecron Energy Saving |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Other Complementary Tools
| CEOs Directory Screen CEOs from public companies around the world | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |