Correlation Between Hangzhou Gisway and Guilin Seamild
Specify exactly 2 symbols:
By analyzing existing cross correlation between Hangzhou Gisway Information and Guilin Seamild Foods, you can compare the effects of market volatilities on Hangzhou Gisway 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 Hangzhou Gisway with a short position of Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hangzhou Gisway and Guilin Seamild.
Diversification Opportunities for Hangzhou Gisway and Guilin Seamild
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Hangzhou and Guilin is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Hangzhou Gisway Information 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 Hangzhou Gisway 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 Hangzhou Gisway Information 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 Hangzhou Gisway i.e., Hangzhou Gisway and Guilin Seamild go up and down completely randomly.
Pair Corralation between Hangzhou Gisway and Guilin Seamild
Assuming the 90 days trading horizon Hangzhou Gisway Information is expected to generate 2.04 times more return on investment than Guilin Seamild. However, Hangzhou Gisway is 2.04 times more volatile than Guilin Seamild Foods. It trades about -0.05 of its potential returns per unit of risk. Guilin Seamild Foods is currently generating about -0.16 per unit of risk. If you would invest 3,310 in Hangzhou Gisway Information on October 14, 2024 and sell it today you would lose (335.00) from holding Hangzhou Gisway Information or give up 10.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hangzhou Gisway Information vs. Guilin Seamild Foods
Performance |
| Timeline |
| Hangzhou Gisway Info |
| Guilin Seamild Foods |
Hangzhou Gisway and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hangzhou Gisway and Guilin Seamild
The main advantage of trading using opposite Hangzhou Gisway and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hangzhou Gisway 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.| Hangzhou Gisway vs. Innovative Medical Management | Hangzhou Gisway vs. Porton Fine Chemicals | Hangzhou Gisway vs. Guangdong Transtek Medical | Hangzhou Gisway vs. Do Fluoride Chemicals Co |
| Guilin Seamild vs. Guangzhou Ruoyuchen Information | Guilin Seamild vs. Jinxiandai Information Industry | Guilin Seamild vs. Hangzhou Gisway Information | Guilin Seamild vs. Zoy Home Furnishing |
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 Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |