Correlation Between China Merchants and Changzhou Xingyu
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By analyzing existing cross correlation between China Merchants Bank and Changzhou Xingyu Automotive, you can compare the effects of market volatilities on China Merchants and Changzhou Xingyu 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 Merchants with a short position of Changzhou Xingyu. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Merchants and Changzhou Xingyu.
Diversification Opportunities for China Merchants and Changzhou Xingyu
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between China and Changzhou is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding China Merchants Bank and Changzhou Xingyu Automotive in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Changzhou Xingyu Aut and China Merchants 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 Merchants Bank are associated (or correlated) with Changzhou Xingyu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Changzhou Xingyu Aut has no effect on the direction of China Merchants i.e., China Merchants and Changzhou Xingyu go up and down completely randomly.
Pair Corralation between China Merchants and Changzhou Xingyu
If you would invest 3,759 in China Merchants Bank on September 13, 2024 and sell it today you would earn a total of 71.00 from holding China Merchants Bank or generate 1.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
China Merchants Bank vs. Changzhou Xingyu Automotive
Performance |
| Timeline |
| China Merchants Bank |
| Changzhou Xingyu Aut |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
China Merchants and Changzhou Xingyu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Merchants and Changzhou Xingyu
The main advantage of trading using opposite China Merchants and Changzhou Xingyu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Merchants position performs unexpectedly, Changzhou Xingyu 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 Changzhou Xingyu will offset losses from the drop in Changzhou Xingyu's long position.| China Merchants vs. Shanghai Yaoji Playing | China Merchants vs. Lander Sports Development | China Merchants vs. Lianhe Chemical Technology | China Merchants vs. Shenzhen Noposion Agrochemicals |
| Changzhou Xingyu vs. StarPower Semiconductor | Changzhou Xingyu vs. Ye Chiu Metal | Changzhou Xingyu vs. Union Semiconductor Co | Changzhou Xingyu vs. Juneyao Airlines |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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