Correlation Between Harvest Fund and Henan Shuanghui
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By analyzing existing cross correlation between Harvest Fund Management and Henan Shuanghui Investment, you can compare the effects of market volatilities on Harvest Fund and Henan Shuanghui 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 Henan Shuanghui. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Henan Shuanghui.
Diversification Opportunities for Harvest Fund and Henan Shuanghui
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Harvest and Henan is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Henan Shuanghui Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Henan Shuanghui Inve 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 Henan Shuanghui. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Henan Shuanghui Inve has no effect on the direction of Harvest Fund i.e., Harvest Fund and Henan Shuanghui go up and down completely randomly.
Pair Corralation between Harvest Fund and Henan Shuanghui
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 1.02 times more return on investment than Henan Shuanghui. However, Harvest Fund is 1.02 times more volatile than Henan Shuanghui Investment. It trades about 0.31 of its potential returns per unit of risk. Henan Shuanghui Investment is currently generating about 0.02 per unit of risk. If you would invest 261.00 in Harvest Fund Management on October 14, 2024 and sell it today you would earn a total of 70.00 from holding Harvest Fund Management or generate 26.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Fund Management vs. Henan Shuanghui Investment
Performance |
| Timeline |
| Harvest Fund Management |
| Henan Shuanghui Inve |
Harvest Fund and Henan Shuanghui Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Henan Shuanghui
The main advantage of trading using opposite Harvest Fund and Henan Shuanghui positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Henan Shuanghui 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 Henan Shuanghui will offset losses from the drop in Henan Shuanghui's long position.| Harvest Fund vs. Heilongjiang Transport Development | Harvest Fund vs. Techshine Electronics Co | Harvest Fund vs. Zhongshan Broad Ocean Motor | Harvest Fund vs. YiDong Electronics Technology |
| Henan Shuanghui vs. Harvest Fund Management | Henan Shuanghui vs. Great Sun Foods Co | Henan Shuanghui vs. Dalian Thermal Power | Henan Shuanghui vs. Guangdong Wens Foodstuff |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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