Correlation Between Harvest Fund and Mengtian Home
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By analyzing existing cross correlation between Harvest Fund Management and Mengtian Home Group, you can compare the effects of market volatilities on Harvest Fund and Mengtian Home 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 Mengtian Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Mengtian Home.
Diversification Opportunities for Harvest Fund and Mengtian Home
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Harvest and Mengtian is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Mengtian Home Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mengtian Home Group 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 Mengtian Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mengtian Home Group has no effect on the direction of Harvest Fund i.e., Harvest Fund and Mengtian Home go up and down completely randomly.
Pair Corralation between Harvest Fund and Mengtian Home
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.37 times more return on investment than Mengtian Home. However, Harvest Fund Management is 2.7 times less risky than Mengtian Home. It trades about 0.31 of its potential returns per unit of risk. Mengtian Home Group is currently generating about 0.02 per unit of risk. If you would invest 261.00 in Harvest Fund Management on October 14, 2024 and sell it today you would earn a total of 70.00 from holding Harvest Fund Management or generate 26.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Fund Management vs. Mengtian Home Group
Performance |
| Timeline |
| Harvest Fund Management |
| Mengtian Home Group |
Harvest Fund and Mengtian Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Mengtian Home
The main advantage of trading using opposite Harvest Fund and Mengtian Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Mengtian Home 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 Mengtian Home will offset losses from the drop in Mengtian Home's long position.| Harvest Fund vs. Heilongjiang Transport Development | Harvest Fund vs. Techshine Electronics Co | Harvest Fund vs. Zhongshan Broad Ocean Motor | Harvest Fund vs. YiDong Electronics Technology |
| Mengtian Home vs. Anhui Shiny Electronic | Mengtian Home vs. Harvest Fund Management | Mengtian Home vs. Beijing YanDong MicroElectronic | Mengtian Home vs. Cicc Fund Management |
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 Stocks Directory module to find actively traded stocks across global markets.
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