Correlation Between Hangzhou Gisway and Bosera CMSK
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By analyzing existing cross correlation between Hangzhou Gisway Information and Bosera CMSK Industrial, you can compare the effects of market volatilities on Hangzhou Gisway and Bosera CMSK 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 Bosera CMSK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hangzhou Gisway and Bosera CMSK.
Diversification Opportunities for Hangzhou Gisway and Bosera CMSK
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Hangzhou and Bosera is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Hangzhou Gisway Information and Bosera CMSK Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bosera CMSK Industrial 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 Bosera CMSK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bosera CMSK Industrial has no effect on the direction of Hangzhou Gisway i.e., Hangzhou Gisway and Bosera CMSK go up and down completely randomly.
Pair Corralation between Hangzhou Gisway and Bosera CMSK
Assuming the 90 days trading horizon Hangzhou Gisway Information is expected to under-perform the Bosera CMSK. In addition to that, Hangzhou Gisway is 2.98 times more volatile than Bosera CMSK Industrial. It trades about -0.15 of its total potential returns per unit of risk. Bosera CMSK Industrial is currently generating about 0.34 per unit of volatility. If you would invest 205.00 in Bosera CMSK Industrial on October 28, 2024 and sell it today you would earn a total of 16.00 from holding Bosera CMSK Industrial or generate 7.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hangzhou Gisway Information vs. Bosera CMSK Industrial
Performance |
| Timeline |
| Hangzhou Gisway Info |
| Bosera CMSK Industrial |
Hangzhou Gisway and Bosera CMSK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hangzhou Gisway and Bosera CMSK
The main advantage of trading using opposite Hangzhou Gisway and Bosera CMSK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hangzhou Gisway position performs unexpectedly, Bosera CMSK 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 Bosera CMSK will offset losses from the drop in Bosera CMSK's long position.| Hangzhou Gisway vs. Hubei Geoway Investment | Hangzhou Gisway vs. Winner Medical Co | Hangzhou Gisway vs. Qingdao Haier Biomedical | Hangzhou Gisway vs. Zhongzhu Medical Holdings |
| Bosera CMSK vs. PetroChina Co Ltd | Bosera CMSK vs. China Mobile Limited | Bosera CMSK vs. CNOOC Limited | Bosera CMSK vs. Ping An Insurance |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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