Correlation Between Harvest Fund and Chengdu Spaceon
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By analyzing existing cross correlation between Harvest Fund Management and Chengdu Spaceon Electronics, you can compare the effects of market volatilities on Harvest Fund and Chengdu Spaceon 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 Chengdu Spaceon. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Chengdu Spaceon.
Diversification Opportunities for Harvest Fund and Chengdu Spaceon
-0.6 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Harvest and Chengdu is -0.6. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Chengdu Spaceon Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chengdu Spaceon Elec 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 Chengdu Spaceon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chengdu Spaceon Elec has no effect on the direction of Harvest Fund i.e., Harvest Fund and Chengdu Spaceon go up and down completely randomly.
Pair Corralation between Harvest Fund and Chengdu Spaceon
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.15 times more return on investment than Chengdu Spaceon. However, Harvest Fund Management is 6.48 times less risky than Chengdu Spaceon. It trades about 0.07 of its potential returns per unit of risk. Chengdu Spaceon Electronics is currently generating about -0.09 per unit of risk. If you would invest 260.00 in Harvest Fund Management on August 30, 2024 and sell it today you would earn a total of 2.00 from holding Harvest Fund Management or generate 0.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Fund Management vs. Chengdu Spaceon Electronics
Performance |
| Timeline |
| Harvest Fund Management |
| Chengdu Spaceon Elec |
Harvest Fund and Chengdu Spaceon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Chengdu Spaceon
The main advantage of trading using opposite Harvest Fund and Chengdu Spaceon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Chengdu Spaceon 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 Chengdu Spaceon will offset losses from the drop in Chengdu Spaceon'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 |
| Chengdu Spaceon vs. Agricultural Bank of | Chengdu Spaceon vs. Industrial and Commercial | Chengdu Spaceon vs. Bank of China | Chengdu Spaceon vs. China Construction Bank |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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