Correlation Between Sublime China and Shandong Publishing
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By analyzing existing cross correlation between Sublime China Information and Shandong Publishing Media, you can compare the effects of market volatilities on Sublime China and Shandong Publishing 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 Shandong Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sublime China and Shandong Publishing.
Diversification Opportunities for Sublime China and Shandong Publishing
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sublime and Shandong is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Sublime China Information and Shandong Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shandong Publishing Media 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 Shandong Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shandong Publishing Media has no effect on the direction of Sublime China i.e., Sublime China and Shandong Publishing go up and down completely randomly.
Pair Corralation between Sublime China and Shandong Publishing
Assuming the 90 days trading horizon Sublime China Information is expected to generate 2.63 times more return on investment than Shandong Publishing. However, Sublime China is 2.63 times more volatile than Shandong Publishing Media. It trades about 0.26 of its potential returns per unit of risk. Shandong Publishing Media is currently generating about -0.06 per unit of risk. If you would invest 6,073 in Sublime China Information on November 3, 2024 and sell it today you would earn a total of 1,935 from holding Sublime China Information or generate 31.86% 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. Shandong Publishing Media
Performance |
| Timeline |
| Sublime China Information |
| Shandong Publishing Media |
Sublime China and Shandong Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sublime China and Shandong Publishing
The main advantage of trading using opposite Sublime China and Shandong Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sublime China position performs unexpectedly, Shandong Publishing 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 Shandong Publishing will offset losses from the drop in Shandong Publishing's 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 |
| Shandong Publishing vs. Guocheng Mining Co | Shandong Publishing vs. Cultural Investment Holdings | Shandong Publishing vs. Bohai Leasing Co | Shandong Publishing vs. Chengdu Xingrong Investment |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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