Correlation Between Ziel Home and Guilin Seamild
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By analyzing existing cross correlation between Ziel Home Furnishing and Guilin Seamild Foods, you can compare the effects of market volatilities on Ziel Home and Guilin Seamild 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 Ziel Home with a short position of Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ziel Home and Guilin Seamild.
Diversification Opportunities for Ziel Home and Guilin Seamild
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Ziel and Guilin is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Ziel Home Furnishing and Guilin Seamild Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guilin Seamild Foods and Ziel Home 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 Ziel Home Furnishing are associated (or correlated) with Guilin Seamild. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guilin Seamild Foods has no effect on the direction of Ziel Home i.e., Ziel Home and Guilin Seamild go up and down completely randomly.
Pair Corralation between Ziel Home and Guilin Seamild
Assuming the 90 days trading horizon Ziel Home is expected to generate 1.94 times less return on investment than Guilin Seamild. In addition to that, Ziel Home is 1.12 times more volatile than Guilin Seamild Foods. It trades about 0.09 of its total potential returns per unit of risk. Guilin Seamild Foods is currently generating about 0.2 per unit of volatility. If you would invest 1,027 in Guilin Seamild Foods on October 18, 2024 and sell it today you would earn a total of 581.00 from holding Guilin Seamild Foods or generate 56.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ziel Home Furnishing vs. Guilin Seamild Foods
Performance |
| Timeline |
| Ziel Home Furnishing |
| Guilin Seamild Foods |
Ziel Home and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ziel Home and Guilin Seamild
The main advantage of trading using opposite Ziel Home and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ziel Home position performs unexpectedly, Guilin Seamild 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 Guilin Seamild will offset losses from the drop in Guilin Seamild's long position.| Ziel Home vs. Changchun Engley Automobile | Ziel Home vs. Jiangsu Xinri E Vehicle | Ziel Home vs. CIMC Vehicles Co | Ziel Home vs. Bloomage Biotechnology Corp |
| Guilin Seamild vs. Shannon Semiconductor Technology | Guilin Seamild vs. Ziel Home Furnishing | Guilin Seamild vs. Vohringer Home Technology | Guilin Seamild vs. Giantec Semiconductor Corp |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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