Correlation Between Harvest Fund and Gansu Jiu
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By analyzing existing cross correlation between Harvest Fund Management and Gansu Jiu Steel, you can compare the effects of market volatilities on Harvest Fund and Gansu Jiu 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 Gansu Jiu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Gansu Jiu.
Diversification Opportunities for Harvest Fund and Gansu Jiu
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Harvest and Gansu is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Gansu Jiu Steel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gansu Jiu Steel 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 Gansu Jiu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gansu Jiu Steel has no effect on the direction of Harvest Fund i.e., Harvest Fund and Gansu Jiu go up and down completely randomly.
Pair Corralation between Harvest Fund and Gansu Jiu
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.13 times more return on investment than Gansu Jiu. However, Harvest Fund Management is 7.84 times less risky than Gansu Jiu. It trades about 0.0 of its potential returns per unit of risk. Gansu Jiu Steel is currently generating about -0.24 per unit of risk. If you would invest 257.00 in Harvest Fund Management on September 1, 2024 and sell it today you would earn a total of 0.00 from holding Harvest Fund Management or generate 0.0% 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. Gansu Jiu Steel
Performance |
| Timeline |
| Harvest Fund Management |
| Gansu Jiu Steel |
Harvest Fund and Gansu Jiu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Gansu Jiu
The main advantage of trading using opposite Harvest Fund and Gansu Jiu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Gansu Jiu 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 Gansu Jiu will offset losses from the drop in Gansu Jiu'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 |
| Gansu Jiu vs. Jinhe Biotechnology Co | Gansu Jiu vs. Southern PublishingMedia Co | Gansu Jiu vs. Guangdong Marubi Biotechnology | Gansu Jiu vs. Time Publishing and |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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