Correlation Between Sublime China and Bank of Suzhou
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By analyzing existing cross correlation between Sublime China Information and Bank of Suzhou, you can compare the effects of market volatilities on Sublime China 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 Sublime China with a short position of Bank of Suzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sublime China and Bank of Suzhou.
Diversification Opportunities for Sublime China and Bank of Suzhou
0.32 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Sublime and Bank is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding Sublime China Information 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 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 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 Sublime China i.e., Sublime China and Bank of Suzhou go up and down completely randomly.
Pair Corralation between Sublime China and Bank of Suzhou
Assuming the 90 days trading horizon Sublime China Information is expected to under-perform the Bank of Suzhou. In addition to that, Sublime China is 4.48 times more volatile than Bank of Suzhou. It trades about -0.02 of its total potential returns per unit of risk. Bank of Suzhou is currently generating about 0.02 per unit of volatility. If you would invest 802.00 in Bank of Suzhou on October 14, 2024 and sell it today you would earn a total of 2.00 from holding Bank of Suzhou or generate 0.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sublime China Information vs. Bank of Suzhou
Performance |
| Timeline |
| Sublime China Information |
| Bank of Suzhou |
Sublime China and Bank of Suzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sublime China and Bank of Suzhou
The main advantage of trading using opposite Sublime China and Bank of Suzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sublime China 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.| Sublime China vs. Shenzhen Noposion Agrochemicals | Sublime China vs. Liaoning Dingjide Petrochemical | Sublime China vs. Guangzhou Dongfang Hotel | Sublime China vs. Guangzhou Seagull Kitchen |
| Bank of Suzhou vs. Sichuan Fulin Transportation | Bank of Suzhou vs. Emdoor Information Co | Bank of Suzhou vs. Sublime China Information | Bank of Suzhou vs. Jinxiandai Information Industry |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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