Correlation Between Harvest Fund and Financial Street
Specify exactly 2 symbols:
By analyzing existing cross correlation between Harvest Fund Management and Financial Street Holdings, you can compare the effects of market volatilities on Harvest Fund and Financial Street 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 Harvest Fund with a short position of Financial Street. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Financial Street.
Diversification Opportunities for Harvest Fund and Financial Street
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Harvest and Financial is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Financial Street Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Financial Street Holdings and Harvest Fund 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 Harvest Fund Management are associated (or correlated) with Financial Street. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Financial Street Holdings has no effect on the direction of Harvest Fund i.e., Harvest Fund and Financial Street go up and down completely randomly.
Pair Corralation between Harvest Fund and Financial Street
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.48 times more return on investment than Financial Street. However, Harvest Fund Management is 2.07 times less risky than Financial Street. It trades about -0.01 of its potential returns per unit of risk. Financial Street Holdings is currently generating about -0.03 per unit of risk. If you would invest 356.00 in Harvest Fund Management on October 16, 2024 and sell it today you would lose (27.00) from holding Harvest Fund Management or give up 7.58% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.54% |
| Values | Daily Returns |
Harvest Fund Management vs. Financial Street Holdings
Performance |
| Timeline |
| Harvest Fund Management |
| Financial Street Holdings |
Harvest Fund and Financial Street Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Financial Street
The main advantage of trading using opposite Harvest Fund and Financial Street positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Financial Street 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 Financial Street will offset losses from the drop in Financial Street's long position.| Harvest Fund vs. Easyhome New Retail | Harvest Fund vs. Bank of Communications | Harvest Fund vs. Silkroad Visual Technology | Harvest Fund vs. China Satellite Communications |
| Financial Street vs. Zoje Resources Investment | Financial Street vs. Postal Savings Bank | Financial Street vs. Zhongrun Resources Investment | Financial Street vs. Hunan Investment Group |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Other Complementary Tools
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges |