Correlation Between Hangzhou Gisway and Marssenger Kitchenware
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By analyzing existing cross correlation between Hangzhou Gisway Information and Marssenger Kitchenware Co, you can compare the effects of market volatilities on Hangzhou Gisway and Marssenger Kitchenware 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 Marssenger Kitchenware. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hangzhou Gisway and Marssenger Kitchenware.
Diversification Opportunities for Hangzhou Gisway and Marssenger Kitchenware
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Hangzhou and Marssenger is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Hangzhou Gisway Information and Marssenger Kitchenware Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marssenger Kitchenware 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 Marssenger Kitchenware. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marssenger Kitchenware has no effect on the direction of Hangzhou Gisway i.e., Hangzhou Gisway and Marssenger Kitchenware go up and down completely randomly.
Pair Corralation between Hangzhou Gisway and Marssenger Kitchenware
Assuming the 90 days trading horizon Hangzhou Gisway Information is expected to generate 0.89 times more return on investment than Marssenger Kitchenware. However, Hangzhou Gisway Information is 1.12 times less risky than Marssenger Kitchenware. It trades about 0.05 of its potential returns per unit of risk. Marssenger Kitchenware Co is currently generating about 0.03 per unit of risk. If you would invest 2,422 in Hangzhou Gisway Information on November 3, 2024 and sell it today you would earn a total of 688.00 from holding Hangzhou Gisway Information or generate 28.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hangzhou Gisway Information vs. Marssenger Kitchenware Co
Performance |
| Timeline |
| Hangzhou Gisway Info |
| Marssenger Kitchenware |
Hangzhou Gisway and Marssenger Kitchenware Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hangzhou Gisway and Marssenger Kitchenware
The main advantage of trading using opposite Hangzhou Gisway and Marssenger Kitchenware positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hangzhou Gisway position performs unexpectedly, Marssenger Kitchenware 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 Marssenger Kitchenware will offset losses from the drop in Marssenger Kitchenware's long position.| Hangzhou Gisway vs. Industrial and Commercial | Hangzhou Gisway vs. Kweichow Moutai Co | Hangzhou Gisway vs. Agricultural Bank of | Hangzhou Gisway vs. China Mobile Limited |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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