Correlation Between Sublime China and Zhongfu Information
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By analyzing existing cross correlation between Sublime China Information and Zhongfu Information, you can compare the effects of market volatilities on Sublime China and Zhongfu Information 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 Zhongfu Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sublime China and Zhongfu Information.
Diversification Opportunities for Sublime China and Zhongfu Information
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Sublime and Zhongfu is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Sublime China Information and Zhongfu Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhongfu Information 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 Zhongfu Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhongfu Information has no effect on the direction of Sublime China i.e., Sublime China and Zhongfu Information go up and down completely randomly.
Pair Corralation between Sublime China and Zhongfu Information
Assuming the 90 days trading horizon Sublime China Information is expected to generate 1.07 times more return on investment than Zhongfu Information. However, Sublime China is 1.07 times more volatile than Zhongfu Information. It trades about 0.08 of its potential returns per unit of risk. Zhongfu Information is currently generating about 0.03 per unit of risk. If you would invest 3,739 in Sublime China Information on October 12, 2024 and sell it today you would earn a total of 2,320 from holding Sublime China Information or generate 62.05% 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. Zhongfu Information
Performance |
| Timeline |
| Sublime China Information |
| Zhongfu Information |
Sublime China and Zhongfu Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sublime China and Zhongfu Information
The main advantage of trading using opposite Sublime China and Zhongfu Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sublime China position performs unexpectedly, Zhongfu Information 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 Zhongfu Information will offset losses from the drop in Zhongfu Information's long position.| Sublime China vs. Songz Automobile Air | Sublime China vs. Dareway Software Co | Sublime China vs. Jiugui Liquor Co | Sublime China vs. Anhui Jianghuai Automobile |
| Zhongfu Information vs. Dawning Information Industry | Zhongfu Information vs. Chahua Modern Housewares | Zhongfu Information vs. Sublime China Information | Zhongfu Information vs. Wonders Information |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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