Correlation Between Harvest Fund and Bank of Suzhou
Specify exactly 2 symbols:
By analyzing existing cross correlation between Harvest Fund Management and Bank of Suzhou, you can compare the effects of market volatilities on Harvest Fund and Bank of Suzhou 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 Bank of Suzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Bank of Suzhou.
Diversification Opportunities for Harvest Fund and Bank of Suzhou
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Harvest and Bank is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Bank of Suzhou in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank of Suzhou 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 Bank of Suzhou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank of Suzhou has no effect on the direction of Harvest Fund i.e., Harvest Fund and Bank of Suzhou go up and down completely randomly.
Pair Corralation between Harvest Fund and Bank of Suzhou
Assuming the 90 days trading horizon Harvest Fund Management is expected to under-perform the Bank of Suzhou. But the stock apears to be less risky and, when comparing its historical volatility, Harvest Fund Management is 1.12 times less risky than Bank of Suzhou. The stock trades about -0.01 of its potential returns per unit of risk. The Bank of Suzhou is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 684.00 in Bank of Suzhou on October 16, 2024 and sell it today you would earn a total of 106.00 from holding Bank of Suzhou or generate 15.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.54% |
| Values | Daily Returns |
Harvest Fund Management vs. Bank of Suzhou
Performance |
| Timeline |
| Harvest Fund Management |
| Bank of Suzhou |
Harvest Fund and Bank of Suzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Bank of Suzhou
The main advantage of trading using opposite Harvest Fund and Bank of Suzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Bank of Suzhou 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 Bank of Suzhou will offset losses from the drop in Bank of Suzhou'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 |
| Bank of Suzhou vs. Threes Company Media | Bank of Suzhou vs. Anhui Xinhua Media | Bank of Suzhou vs. Shuhua Sports Co | Bank of Suzhou vs. HanS Laser Tech |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Stocks Directory Find actively traded stocks across global markets | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum |