Correlation Between Sanbo Hospital and Bank of Suzhou
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By analyzing existing cross correlation between Sanbo Hospital Management and Bank of Suzhou, you can compare the effects of market volatilities on Sanbo Hospital and Bank of Suzhou 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 Bank of Suzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sanbo Hospital and Bank of Suzhou.
Diversification Opportunities for Sanbo Hospital and Bank of Suzhou
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Sanbo and Bank is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Sanbo Hospital Management and Bank of Suzhou in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank of Suzhou 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 Bank of Suzhou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank of Suzhou has no effect on the direction of Sanbo Hospital i.e., Sanbo Hospital and Bank of Suzhou go up and down completely randomly.
Pair Corralation between Sanbo Hospital and Bank of Suzhou
Assuming the 90 days trading horizon Sanbo Hospital Management is expected to under-perform the Bank of Suzhou. In addition to that, Sanbo Hospital is 3.59 times more volatile than Bank of Suzhou. It trades about -0.12 of its total potential returns per unit of risk. Bank of Suzhou is currently generating about 0.07 per unit of volatility. If you would invest 794.00 in Bank of Suzhou on October 12, 2024 and sell it today you would earn a total of 12.00 from holding Bank of Suzhou or generate 1.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sanbo Hospital Management vs. Bank of Suzhou
Performance |
| Timeline |
| Sanbo Hospital Management |
| Bank of Suzhou |
Sanbo Hospital and Bank of Suzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sanbo Hospital and Bank of Suzhou
The main advantage of trading using opposite Sanbo Hospital and Bank of Suzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sanbo Hospital position performs unexpectedly, Bank of Suzhou 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 Bank of Suzhou will offset losses from the drop in Bank of Suzhou's long position.| Sanbo Hospital vs. Shanghai Phichem Material | Sanbo Hospital vs. Northern United Publishing | Sanbo Hospital vs. GRIPM Advanced Materials | Sanbo Hospital vs. Duzhe Publishing Media |
| Bank of Suzhou vs. Qingdao Haier Biomedical | Bank of Suzhou vs. Nanjing Vishee Medical | Bank of Suzhou vs. Hainan Haiqi Transportation | Bank of Suzhou vs. Zhongzhu Medical Holdings |
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 Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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