Correlation Between Sublime China and Tianshui Huatian
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By analyzing existing cross correlation between Sublime China Information and Tianshui Huatian Technology, you can compare the effects of market volatilities on Sublime China and Tianshui Huatian 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 Sublime China with a short position of Tianshui Huatian. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sublime China and Tianshui Huatian.
Diversification Opportunities for Sublime China and Tianshui Huatian
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Sublime and Tianshui is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding Sublime China Information and Tianshui Huatian Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tianshui Huatian Tec and Sublime China 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 Sublime China Information are associated (or correlated) with Tianshui Huatian. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tianshui Huatian Tec has no effect on the direction of Sublime China i.e., Sublime China and Tianshui Huatian go up and down completely randomly.
Pair Corralation between Sublime China and Tianshui Huatian
Assuming the 90 days trading horizon Sublime China Information is expected to generate 1.9 times more return on investment than Tianshui Huatian. However, Sublime China is 1.9 times more volatile than Tianshui Huatian Technology. It trades about 0.22 of its potential returns per unit of risk. Tianshui Huatian Technology is currently generating about -0.11 per unit of risk. If you would invest 5,451 in Sublime China Information on October 28, 2024 and sell it today you would earn a total of 1,222 from holding Sublime China Information or generate 22.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sublime China Information vs. Tianshui Huatian Technology
Performance |
| Timeline |
| Sublime China Information |
| Tianshui Huatian Tec |
Sublime China and Tianshui Huatian Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sublime China and Tianshui Huatian
The main advantage of trading using opposite Sublime China and Tianshui Huatian positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sublime China position performs unexpectedly, Tianshui Huatian 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 Tianshui Huatian will offset losses from the drop in Tianshui Huatian's long position.| Sublime China vs. Eastern Air Logistics | Sublime China vs. Sunny Loan Top | Sublime China vs. City Development Environment | Sublime China vs. Bohai Leasing Co |
| Tianshui Huatian vs. Easyhome New Retail | Tianshui Huatian vs. Innovative Medical Management | Tianshui Huatian vs. Chengdu Spaceon Electronics | Tianshui Huatian vs. Dhc Software 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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