Correlation Between Harvest Fund and Shandong Sanyuan
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By analyzing existing cross correlation between Harvest Fund Management and Shandong Sanyuan Biotechnology, you can compare the effects of market volatilities on Harvest Fund and Shandong Sanyuan 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 Shandong Sanyuan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Shandong Sanyuan.
Diversification Opportunities for Harvest Fund and Shandong Sanyuan
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Harvest and Shandong is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Shandong Sanyuan Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shandong Sanyuan Bio 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 Shandong Sanyuan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shandong Sanyuan Bio has no effect on the direction of Harvest Fund i.e., Harvest Fund and Shandong Sanyuan go up and down completely randomly.
Pair Corralation between Harvest Fund and Shandong Sanyuan
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.61 times more return on investment than Shandong Sanyuan. However, Harvest Fund Management is 1.63 times less risky than Shandong Sanyuan. It trades about -0.01 of its potential returns per unit of risk. Shandong Sanyuan Biotechnology is currently generating about -0.02 per unit of risk. If you would invest 356.00 in Harvest Fund Management on October 16, 2024 and sell it today you would lose (27.00) from holding Harvest Fund Management or give up 7.58% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.54% |
| Values | Daily Returns |
Harvest Fund Management vs. Shandong Sanyuan Biotechnology
Performance |
| Timeline |
| Harvest Fund Management |
| Shandong Sanyuan Bio |
Harvest Fund and Shandong Sanyuan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Shandong Sanyuan
The main advantage of trading using opposite Harvest Fund and Shandong Sanyuan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Shandong Sanyuan 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 Shandong Sanyuan will offset losses from the drop in Shandong Sanyuan'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 |
| Shandong Sanyuan vs. Shenyang Blue Silver | Shandong Sanyuan vs. Harvest Fund Management | Shandong Sanyuan vs. Guangdong Silvere Sci | Shandong Sanyuan vs. Tianjin Silvery Dragon |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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