Correlation Between Poly Real and 5I5j Holding
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By analyzing existing cross correlation between Poly Real Estate and 5I5j Holding Group, you can compare the effects of market volatilities on Poly Real and 5I5j Holding 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 Poly Real with a short position of 5I5j Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Poly Real and 5I5j Holding.
Diversification Opportunities for Poly Real and 5I5j Holding
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Poly and 5I5j is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Poly Real Estate and 5I5j Holding Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 5I5j Holding Group and Poly Real 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 Poly Real Estate are associated (or correlated) with 5I5j Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 5I5j Holding Group has no effect on the direction of Poly Real i.e., Poly Real and 5I5j Holding go up and down completely randomly.
Pair Corralation between Poly Real and 5I5j Holding
Assuming the 90 days trading horizon Poly Real Estate is expected to under-perform the 5I5j Holding. But the stock apears to be less risky and, when comparing its historical volatility, Poly Real Estate is 1.75 times less risky than 5I5j Holding. The stock trades about -0.24 of its potential returns per unit of risk. The 5I5j Holding Group is currently generating about -0.14 of returns per unit of risk over similar time horizon. If you would invest 322.00 in 5I5j Holding Group on October 28, 2024 and sell it today you would lose (26.00) from holding 5I5j Holding Group or give up 8.07% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Poly Real Estate vs. 5I5j Holding Group
Performance |
| Timeline |
| Poly Real Estate |
| 5I5j Holding Group |
Poly Real and 5I5j Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Poly Real and 5I5j Holding
The main advantage of trading using opposite Poly Real and 5I5j Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Poly Real position performs unexpectedly, 5I5j Holding 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 5I5j Holding will offset losses from the drop in 5I5j Holding's long position.| Poly Real vs. New Hope Dairy | Poly Real vs. Jiangsu Yueda Investment | Poly Real vs. Jiahe Foods Industry | Poly Real vs. Panda Dairy Corp |
| 5I5j Holding vs. China Aluminum International | 5I5j Holding vs. Shenzhen Bioeasy Biotechnology | 5I5j Holding vs. Guangdong Jingyi Metal | 5I5j Holding vs. CITIC Metal Co |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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