Correlation Between Sublime China and Eastern Air
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By analyzing existing cross correlation between Sublime China Information and Eastern Air Logistics, you can compare the effects of market volatilities on Sublime China and Eastern Air 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 Eastern Air. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sublime China and Eastern Air.
Diversification Opportunities for Sublime China and Eastern Air
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sublime and Eastern is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Sublime China Information and Eastern Air Logistics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eastern Air Logistics 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 Eastern Air. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eastern Air Logistics has no effect on the direction of Sublime China i.e., Sublime China and Eastern Air go up and down completely randomly.
Pair Corralation between Sublime China and Eastern Air
Assuming the 90 days trading horizon Sublime China Information is expected to generate 2.18 times more return on investment than Eastern Air. However, Sublime China is 2.18 times more volatile than Eastern Air Logistics. It trades about 0.26 of its potential returns per unit of risk. Eastern Air Logistics is currently generating about 0.0 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. Eastern Air Logistics
Performance |
| Timeline |
| Sublime China Information |
| Eastern Air Logistics |
Sublime China and Eastern Air Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sublime China and Eastern Air
The main advantage of trading using opposite Sublime China and Eastern Air positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sublime China position performs unexpectedly, Eastern Air 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 Eastern Air will offset losses from the drop in Eastern Air'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 |
| Eastern Air vs. Shenzhen Centralcon Investment | Eastern Air vs. HeNan Splendor Science | Eastern Air vs. Citic Offshore Helicopter | Eastern Air vs. CSSC Offshore Marine |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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