Correlation Between China Asset and Guangdong Silvere
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By analyzing existing cross correlation between China Asset Management and Guangdong Silvere Sci, you can compare the effects of market volatilities on China Asset and Guangdong Silvere 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 China Asset with a short position of Guangdong Silvere. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Asset and Guangdong Silvere.
Diversification Opportunities for China Asset and Guangdong Silvere
-0.64 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between China and Guangdong is -0.64. Overlapping area represents the amount of risk that can be diversified away by holding China Asset Management and Guangdong Silvere Sci in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong Silvere Sci and China Asset 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 China Asset Management are associated (or correlated) with Guangdong Silvere. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong Silvere Sci has no effect on the direction of China Asset i.e., China Asset and Guangdong Silvere go up and down completely randomly.
Pair Corralation between China Asset and Guangdong Silvere
Assuming the 90 days trading horizon China Asset Management is expected to generate 0.27 times more return on investment than Guangdong Silvere. However, China Asset Management is 3.73 times less risky than Guangdong Silvere. It trades about 0.46 of its potential returns per unit of risk. Guangdong Silvere Sci is currently generating about -0.17 per unit of risk. If you would invest 351.00 in China Asset Management on October 21, 2024 and sell it today you would earn a total of 29.00 from holding China Asset Management or generate 8.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Asset Management vs. Guangdong Silvere Sci
Performance |
| Timeline |
| China Asset Management |
| Guangdong Silvere Sci |
China Asset and Guangdong Silvere Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Asset and Guangdong Silvere
The main advantage of trading using opposite China Asset and Guangdong Silvere positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Asset position performs unexpectedly, Guangdong Silvere 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 Guangdong Silvere will offset losses from the drop in Guangdong Silvere's long position.| China Asset vs. CGN Nuclear Technology | China Asset vs. Zhejiang Construction Investment | China Asset vs. Vanfund Urban Investment | China Asset vs. Dhc Software Co |
| Guangdong Silvere vs. GRINM Semiconductor Materials | Guangdong Silvere vs. Shenzhen Zqgame | Guangdong Silvere vs. Uroica Mining Safety | Guangdong Silvere vs. Suzhou Oriental Semiconductor |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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