Correlation Between China Asset and Grandblue Environment
Specify exactly 2 symbols:
By analyzing existing cross correlation between China Asset Management and Grandblue Environment Co, you can compare the effects of market volatilities on China Asset and Grandblue Environment 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 Grandblue Environment. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Asset and Grandblue Environment.
Diversification Opportunities for China Asset and Grandblue Environment
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between China and Grandblue is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding China Asset Management and Grandblue Environment Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grandblue Environment 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 Grandblue Environment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grandblue Environment has no effect on the direction of China Asset i.e., China Asset and Grandblue Environment go up and down completely randomly.
Pair Corralation between China Asset and Grandblue Environment
Assuming the 90 days trading horizon China Asset Management is expected to generate 0.64 times more return on investment than Grandblue Environment. However, China Asset Management is 1.56 times less risky than Grandblue Environment. It trades about 0.19 of its potential returns per unit of risk. Grandblue Environment Co is currently generating about 0.11 per unit of risk. If you would invest 252.00 in China Asset Management on October 27, 2024 and sell it today you would earn a total of 139.00 from holding China Asset Management or generate 55.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Asset Management vs. Grandblue Environment Co
Performance |
| Timeline |
| China Asset Management |
| Grandblue Environment |
China Asset and Grandblue Environment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Asset and Grandblue Environment
The main advantage of trading using opposite China Asset and Grandblue Environment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Asset position performs unexpectedly, Grandblue Environment 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 Grandblue Environment will offset losses from the drop in Grandblue Environment's long position.| China Asset vs. Industrial and Commercial | China Asset vs. Kweichow Moutai Co | China Asset vs. Agricultural Bank of | China Asset vs. China Mobile Limited |
| Grandblue Environment vs. Guocheng Mining Co | Grandblue Environment vs. Do Fluoride Chemicals Co | Grandblue Environment vs. Guangdong Silvere Sci | Grandblue Environment vs. Porton Fine Chemicals |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets |