Correlation Between Harvest Fund and Guangzhou KingTeller
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By analyzing existing cross correlation between Harvest Fund Management and Guangzhou KingTeller Technology, you can compare the effects of market volatilities on Harvest Fund and Guangzhou KingTeller 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 Guangzhou KingTeller. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Guangzhou KingTeller.
Diversification Opportunities for Harvest Fund and Guangzhou KingTeller
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Harvest and Guangzhou is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Guangzhou KingTeller Technolog in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangzhou KingTeller 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 Guangzhou KingTeller. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangzhou KingTeller has no effect on the direction of Harvest Fund i.e., Harvest Fund and Guangzhou KingTeller go up and down completely randomly.
Pair Corralation between Harvest Fund and Guangzhou KingTeller
Assuming the 90 days trading horizon Harvest Fund is expected to generate 14.87 times less return on investment than Guangzhou KingTeller. But when comparing it to its historical volatility, Harvest Fund Management is 10.11 times less risky than Guangzhou KingTeller. It trades about 0.07 of its potential returns per unit of risk. Guangzhou KingTeller Technology is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 440.00 in Guangzhou KingTeller Technology on August 30, 2024 and sell it today you would earn a total of 43.00 from holding Guangzhou KingTeller Technology or generate 9.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Fund Management vs. Guangzhou KingTeller Technolog
Performance |
| Timeline |
| Harvest Fund Management |
| Guangzhou KingTeller |
Harvest Fund and Guangzhou KingTeller Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Guangzhou KingTeller
The main advantage of trading using opposite Harvest Fund and Guangzhou KingTeller positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Guangzhou KingTeller 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 Guangzhou KingTeller will offset losses from the drop in Guangzhou KingTeller's long position.| Harvest Fund vs. Industrial and Commercial | Harvest Fund vs. Kweichow Moutai Co | Harvest Fund vs. Agricultural Bank of | Harvest Fund vs. China Mobile Limited |
| Guangzhou KingTeller vs. Cambricon Technologies Corp | Guangzhou KingTeller vs. Loongson Technology Corp | Guangzhou KingTeller vs. Shenzhen Fortune Trend | Guangzhou KingTeller vs. Chongqing Road Bridge |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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