Correlation Between Sanbo Hospital and Advanced Micro
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By analyzing existing cross correlation between Sanbo Hospital Management and Advanced Micro Fabrication, you can compare the effects of market volatilities on Sanbo Hospital and Advanced Micro 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 Advanced Micro. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sanbo Hospital and Advanced Micro.
Diversification Opportunities for Sanbo Hospital and Advanced Micro
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Sanbo and Advanced is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding Sanbo Hospital Management and Advanced Micro Fabrication in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Advanced Micro Fabri 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 Advanced Micro. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Advanced Micro Fabri has no effect on the direction of Sanbo Hospital i.e., Sanbo Hospital and Advanced Micro go up and down completely randomly.
Pair Corralation between Sanbo Hospital and Advanced Micro
Assuming the 90 days trading horizon Sanbo Hospital Management is expected to generate 1.09 times more return on investment than Advanced Micro. However, Sanbo Hospital is 1.09 times more volatile than Advanced Micro Fabrication. It trades about -0.11 of its potential returns per unit of risk. Advanced Micro Fabrication is currently generating about -0.22 per unit of risk. If you would invest 5,300 in Sanbo Hospital Management on September 14, 2024 and sell it today you would lose (485.00) from holding Sanbo Hospital Management or give up 9.15% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sanbo Hospital Management vs. Advanced Micro Fabrication
Performance |
| Timeline |
| Sanbo Hospital Management |
| Advanced Micro Fabri |
Sanbo Hospital and Advanced Micro Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sanbo Hospital and Advanced Micro
The main advantage of trading using opposite Sanbo Hospital and Advanced Micro positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sanbo Hospital position performs unexpectedly, Advanced Micro 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 Advanced Micro will offset losses from the drop in Advanced Micro's long position.| Sanbo Hospital vs. Shenzhen MYS Environmental | Sanbo Hospital vs. AVIC Fund Management | Sanbo Hospital vs. Shenzhen Bingchuan Network | Sanbo Hospital vs. Penghua Shenzhen Energy |
| Advanced Micro vs. Longmaster Information Tech | Advanced Micro vs. YLZ Information Tech | Advanced Micro vs. AVCON Information Tech | Advanced Micro vs. Holitech Technology Co |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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