Correlation Between Sanbo Hospital and China Citic
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By analyzing existing cross correlation between Sanbo Hospital Management and China Citic Bank, you can compare the effects of market volatilities on Sanbo Hospital and China Citic 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 China Citic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sanbo Hospital and China Citic.
Diversification Opportunities for Sanbo Hospital and China Citic
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Sanbo and China is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Sanbo Hospital Management and China Citic Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Citic Bank 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 China Citic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Citic Bank has no effect on the direction of Sanbo Hospital i.e., Sanbo Hospital and China Citic go up and down completely randomly.
Pair Corralation between Sanbo Hospital and China Citic
Assuming the 90 days trading horizon Sanbo Hospital Management is expected to generate 1.73 times more return on investment than China Citic. However, Sanbo Hospital is 1.73 times more volatile than China Citic Bank. It trades about 0.02 of its potential returns per unit of risk. China Citic Bank is currently generating about -0.01 per unit of risk. If you would invest 4,202 in Sanbo Hospital Management on October 14, 2024 and sell it today you would lose (42.00) from holding Sanbo Hospital Management or give up 1.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sanbo Hospital Management vs. China Citic Bank
Performance |
| Timeline |
| Sanbo Hospital Management |
| China Citic Bank |
Sanbo Hospital and China Citic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sanbo Hospital and China Citic
The main advantage of trading using opposite Sanbo Hospital and China Citic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sanbo Hospital position performs unexpectedly, China Citic 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 China Citic will offset losses from the drop in China Citic's long position.| Sanbo Hospital vs. Kangxin New Materials | Sanbo Hospital vs. Allwin Telecommunication Co | Sanbo Hospital vs. Jiangnan Mould Plastic | Sanbo Hospital vs. GRIPM Advanced Materials |
| China Citic vs. Fuda Alloy Materials | China Citic vs. China Building Material | China Citic vs. Sanbo Hospital Management | China Citic vs. King Strong New Material |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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