Correlation Between China Minsheng and Zhejiang Publishing
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By analyzing existing cross correlation between China Minsheng Banking and Zhejiang Publishing Media, you can compare the effects of market volatilities on China Minsheng and Zhejiang Publishing 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 China Minsheng with a short position of Zhejiang Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Minsheng and Zhejiang Publishing.
Diversification Opportunities for China Minsheng and Zhejiang Publishing
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between China and Zhejiang is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding China Minsheng Banking and Zhejiang Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhejiang Publishing Media and China Minsheng 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 China Minsheng Banking are associated (or correlated) with Zhejiang Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhejiang Publishing Media has no effect on the direction of China Minsheng i.e., China Minsheng and Zhejiang Publishing go up and down completely randomly.
Pair Corralation between China Minsheng and Zhejiang Publishing
Assuming the 90 days trading horizon China Minsheng Banking is expected to generate 0.54 times more return on investment than Zhejiang Publishing. However, China Minsheng Banking is 1.84 times less risky than Zhejiang Publishing. It trades about 0.02 of its potential returns per unit of risk. Zhejiang Publishing Media is currently generating about 0.0 per unit of risk. If you would invest 386.00 in China Minsheng Banking on September 1, 2024 and sell it today you would earn a total of 10.00 from holding China Minsheng Banking or generate 2.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.19% |
| Values | Daily Returns |
China Minsheng Banking vs. Zhejiang Publishing Media
Performance |
| Timeline |
| China Minsheng Banking |
| Zhejiang Publishing Media |
China Minsheng and Zhejiang Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Minsheng and Zhejiang Publishing
The main advantage of trading using opposite China Minsheng and Zhejiang Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Minsheng position performs unexpectedly, Zhejiang Publishing 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 Zhejiang Publishing will offset losses from the drop in Zhejiang Publishing's long position.| China Minsheng vs. V V Food | China Minsheng vs. Juewei Food Co | China Minsheng vs. 360 Security Technology | China Minsheng vs. Guangdong Xiongsu Technology |
| Zhejiang Publishing vs. GRG Banking Equipment | Zhejiang Publishing vs. Ping An Insurance | Zhejiang Publishing vs. Xiamen Bank Co | Zhejiang Publishing vs. Nancal Energy Saving Tech |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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