Correlation Between Sublime China and Bloomage Biotechnology
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By analyzing existing cross correlation between Sublime China Information and Bloomage Biotechnology Corp, you can compare the effects of market volatilities on Sublime China and Bloomage Biotechnology 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 Bloomage Biotechnology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sublime China and Bloomage Biotechnology.
Diversification Opportunities for Sublime China and Bloomage Biotechnology
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sublime and Bloomage is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Sublime China Information and Bloomage Biotechnology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bloomage Biotechnology 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 Bloomage Biotechnology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bloomage Biotechnology has no effect on the direction of Sublime China i.e., Sublime China and Bloomage Biotechnology go up and down completely randomly.
Pair Corralation between Sublime China and Bloomage Biotechnology
Assuming the 90 days trading horizon Sublime China Information is expected to generate 1.77 times more return on investment than Bloomage Biotechnology. However, Sublime China is 1.77 times more volatile than Bloomage Biotechnology Corp. It trades about 0.04 of its potential returns per unit of risk. Bloomage Biotechnology Corp is currently generating about -0.07 per unit of risk. If you would invest 4,813 in Sublime China Information on October 16, 2024 and sell it today you would earn a total of 1,603 from holding Sublime China Information or generate 33.31% 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. Bloomage Biotechnology Corp
Performance |
| Timeline |
| Sublime China Information |
| Bloomage Biotechnology |
Sublime China and Bloomage Biotechnology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sublime China and Bloomage Biotechnology
The main advantage of trading using opposite Sublime China and Bloomage Biotechnology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sublime China position performs unexpectedly, Bloomage Biotechnology 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 Bloomage Biotechnology will offset losses from the drop in Bloomage Biotechnology's long position.| Sublime China vs. Guangxi Wuzhou Communications | Sublime China vs. Hubeiyichang Transportation Group | Sublime China vs. Wuhan Yangtze Communication | Sublime China vs. Lander Sports Development |
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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