Correlation Between Harvest Fund and Zoy Home
Specify exactly 2 symbols:
By analyzing existing cross correlation between Harvest Fund Management and Zoy Home Furnishing, you can compare the effects of market volatilities on Harvest Fund and Zoy 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 Zoy Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Zoy Home.
Diversification Opportunities for Harvest Fund and Zoy Home
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Harvest and Zoy is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Zoy Home Furnishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zoy Home Furnishing 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 Zoy Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zoy Home Furnishing has no effect on the direction of Harvest Fund i.e., Harvest Fund and Zoy Home go up and down completely randomly.
Pair Corralation between Harvest Fund and Zoy Home
Assuming the 90 days trading horizon Harvest Fund Management is expected to under-perform the Zoy Home. But the stock apears to be less risky and, when comparing its historical volatility, Harvest Fund Management is 2.62 times less risky than Zoy Home. The stock trades about -0.01 of its potential returns per unit of risk. The Zoy Home Furnishing is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 1,425 in Zoy Home Furnishing on November 30, 2024 and sell it today you would lose (291.00) from holding Zoy Home Furnishing or give up 20.42% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Harvest Fund Management vs. Zoy Home Furnishing
Performance |
Timeline |
Harvest Fund Management |
Zoy Home Furnishing |
Harvest Fund and Zoy Home Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Harvest Fund and Zoy Home
The main advantage of trading using opposite Harvest Fund and Zoy Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Zoy 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 Zoy Home will offset losses from the drop in Zoy Home's long position.Harvest Fund vs. Huawen Media Investment | ||
Harvest Fund vs. Jiangsu Yueda Investment | ||
Harvest Fund vs. AUPU Home Style | ||
Harvest Fund vs. Mengtian Home Group |
Zoy Home vs. Guangzhou Zhujiang Brewery | ||
Zoy Home vs. Shuhua Sports Co | ||
Zoy Home vs. Zhejiang Daily Media | ||
Zoy Home vs. Zhejiang Qianjiang Motorcycle |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
Global Correlations Find global opportunities by holding instruments from different markets | |
Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum |