Correlation Between Sublime China and XiaMen HongXin
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By analyzing existing cross correlation between Sublime China Information and XiaMen HongXin Electron tech, you can compare the effects of market volatilities on Sublime China and XiaMen HongXin 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 XiaMen HongXin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sublime China and XiaMen HongXin.
Diversification Opportunities for Sublime China and XiaMen HongXin
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Sublime and XiaMen is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Sublime China Information and XiaMen HongXin Electron tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on XiaMen HongXin Electron 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 XiaMen HongXin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XiaMen HongXin Electron has no effect on the direction of Sublime China i.e., Sublime China and XiaMen HongXin go up and down completely randomly.
Pair Corralation between Sublime China and XiaMen HongXin
Assuming the 90 days trading horizon Sublime China Information is expected to generate 1.2 times more return on investment than XiaMen HongXin. However, Sublime China is 1.2 times more volatile than XiaMen HongXin Electron tech. It trades about 0.34 of its potential returns per unit of risk. XiaMen HongXin Electron tech is currently generating about 0.13 per unit of risk. If you would invest 5,733 in Sublime China Information on November 6, 2024 and sell it today you would earn a total of 2,275 from holding Sublime China Information or generate 39.68% 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. XiaMen HongXin Electron tech
Performance |
| Timeline |
| Sublime China Information |
| XiaMen HongXin Electron |
Sublime China and XiaMen HongXin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sublime China and XiaMen HongXin
The main advantage of trading using opposite Sublime China and XiaMen HongXin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sublime China position performs unexpectedly, XiaMen HongXin 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 XiaMen HongXin will offset losses from the drop in XiaMen HongXin's long position.| Sublime China vs. Offcn Education Technology | Sublime China vs. COL Digital Publishing | Sublime China vs. Changjiang Publishing Media | Sublime China vs. Duzhe Publishing Media |
| XiaMen HongXin vs. Jiangsu Jinling Sports | XiaMen HongXin vs. Henan Shuanghui Investment | XiaMen HongXin vs. Shanghai Material Trading | XiaMen HongXin vs. Postal Savings Bank |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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