Correlation Between Sublime China and Success Electronics
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By analyzing existing cross correlation between Sublime China Information and Success Electronics, you can compare the effects of market volatilities on Sublime China and Success Electronics 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 Success Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sublime China and Success Electronics.
Diversification Opportunities for Sublime China and Success Electronics
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Sublime and Success is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Sublime China Information and Success Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Success Electronics 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 Success Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Success Electronics has no effect on the direction of Sublime China i.e., Sublime China and Success Electronics go up and down completely randomly.
Pair Corralation between Sublime China and Success Electronics
Assuming the 90 days trading horizon Sublime China Information is expected to generate 1.49 times more return on investment than Success Electronics. However, Sublime China is 1.49 times more volatile than Success Electronics. It trades about 0.12 of its potential returns per unit of risk. Success Electronics is currently generating about 0.01 per unit of risk. If you would invest 2,874 in Sublime China Information on November 3, 2024 and sell it today you would earn a total of 5,134 from holding Sublime China Information or generate 178.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sublime China Information vs. Success Electronics
Performance |
| Timeline |
| Sublime China Information |
| Success Electronics |
Sublime China and Success Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sublime China and Success Electronics
The main advantage of trading using opposite Sublime China and Success Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sublime China position performs unexpectedly, Success Electronics 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 Success Electronics will offset losses from the drop in Success Electronics' long position.| Sublime China vs. Huatian Hotel Group | Sublime China vs. SSAW Hotels Resorts | Sublime China vs. Bomesc Offshore Engineering | Sublime China vs. Sharetronic Data Technology |
| Success Electronics vs. Lier Chemical Co | Success Electronics vs. Threes Company Media | Success Electronics vs. Lander Sports Development | Success Electronics vs. Shandong Rike Chemical |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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