Correlation Between Harvest Fund and Holitech Technology
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By analyzing existing cross correlation between Harvest Fund Management and Holitech Technology Co, you can compare the effects of market volatilities on Harvest Fund and Holitech Technology 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 Holitech Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Holitech Technology.
Diversification Opportunities for Harvest Fund and Holitech Technology
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Harvest and Holitech is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Holitech Technology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Holitech Technology 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 Holitech Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Holitech Technology has no effect on the direction of Harvest Fund i.e., Harvest Fund and Holitech Technology go up and down completely randomly.
Pair Corralation between Harvest Fund and Holitech Technology
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.51 times more return on investment than Holitech Technology. However, Harvest Fund Management is 1.95 times less risky than Holitech Technology. It trades about 0.48 of its potential returns per unit of risk. Holitech Technology Co is currently generating about -0.09 per unit of risk. If you would invest 269.00 in Harvest Fund Management on October 17, 2024 and sell it today you would earn a total of 56.00 from holding Harvest Fund Management or generate 20.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Fund Management vs. Holitech Technology Co
Performance |
| Timeline |
| Harvest Fund Management |
| Holitech Technology |
Harvest Fund and Holitech Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Holitech Technology
The main advantage of trading using opposite Harvest Fund and Holitech Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Holitech Technology 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 Holitech Technology will offset losses from the drop in Holitech Technology's long position.| Harvest Fund vs. Tianjin Hi Tech Development | Harvest Fund vs. Sinocat Environmental Technology | Harvest Fund vs. Gansu Jiu Steel | Harvest Fund vs. Zhejiang JIULI Hi tech |
| Holitech Technology vs. Konfoong Materials International | Holitech Technology vs. Harvest Fund Management | Holitech Technology vs. Jinsanjiang Silicon Material | Holitech Technology vs. SSAW Hotels Resorts |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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