Correlation Between Harvest Fund and Guangdong Silvere
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By analyzing existing cross correlation between Harvest Fund Management and Guangdong Silvere Sci, you can compare the effects of market volatilities on Harvest Fund and Guangdong Silvere 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 Guangdong Silvere. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Guangdong Silvere.
Diversification Opportunities for Harvest Fund and Guangdong Silvere
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Harvest and Guangdong is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Guangdong Silvere Sci in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong Silvere Sci 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 Guangdong Silvere. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong Silvere Sci has no effect on the direction of Harvest Fund i.e., Harvest Fund and Guangdong Silvere go up and down completely randomly.
Pair Corralation between Harvest Fund and Guangdong Silvere
Assuming the 90 days trading horizon Harvest Fund Management is expected to under-perform the Guangdong Silvere. But the stock apears to be less risky and, when comparing its historical volatility, Harvest Fund Management is 2.48 times less risky than Guangdong Silvere. The stock trades about -0.05 of its potential returns per unit of risk. The Guangdong Silvere Sci is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 542.00 in Guangdong Silvere Sci on September 4, 2024 and sell it today you would earn a total of 133.00 from holding Guangdong Silvere Sci or generate 24.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 97.15% |
| Values | Daily Returns |
Harvest Fund Management vs. Guangdong Silvere Sci
Performance |
| Timeline |
| Harvest Fund Management |
| Guangdong Silvere Sci |
Harvest Fund and Guangdong Silvere Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Guangdong Silvere
The main advantage of trading using opposite Harvest Fund and Guangdong Silvere positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Guangdong Silvere 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 Guangdong Silvere will offset losses from the drop in Guangdong Silvere'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 |
| Guangdong Silvere vs. Sinosteel Engineering and | Guangdong Silvere vs. Anyang Iron Steel | Guangdong Silvere vs. Jiangxi JDL Environmental | Guangdong Silvere vs. China Sports Industry |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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