Correlation Between Harvest Fund and Fiberhome Telecommunicatio
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By analyzing existing cross correlation between Harvest Fund Management and Fiberhome Telecommunication Technologies, you can compare the effects of market volatilities on Harvest Fund and Fiberhome Telecommunicatio 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 Fiberhome Telecommunicatio. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Fiberhome Telecommunicatio.
Diversification Opportunities for Harvest Fund and Fiberhome Telecommunicatio
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Harvest and Fiberhome is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Fiberhome Telecommunication Te in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fiberhome Telecommunicatio 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 Fiberhome Telecommunicatio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fiberhome Telecommunicatio has no effect on the direction of Harvest Fund i.e., Harvest Fund and Fiberhome Telecommunicatio go up and down completely randomly.
Pair Corralation between Harvest Fund and Fiberhome Telecommunicatio
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.21 times more return on investment than Fiberhome Telecommunicatio. However, Harvest Fund Management is 4.76 times less risky than Fiberhome Telecommunicatio. It trades about 0.0 of its potential returns per unit of risk. Fiberhome Telecommunication Technologies is currently generating about -0.19 per unit of risk. If you would invest 261.00 in Harvest Fund Management on September 13, 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 | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Fund Management vs. Fiberhome Telecommunication Te
Performance |
| Timeline |
| Harvest Fund Management |
| Fiberhome Telecommunicatio |
Harvest Fund and Fiberhome Telecommunicatio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Fiberhome Telecommunicatio
The main advantage of trading using opposite Harvest Fund and Fiberhome Telecommunicatio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Fiberhome Telecommunicatio 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 Fiberhome Telecommunicatio will offset losses from the drop in Fiberhome Telecommunicatio's long position.| Harvest Fund vs. Hunan TV Broadcast | Harvest Fund vs. Jiangsu Jinling Sports | Harvest Fund vs. Zhongshan Broad Ocean Motor | Harvest Fund vs. Shandong Hi Speed RoadBridge |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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