Correlation Between Poly Real and Muyuan Foodstuff
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By analyzing existing cross correlation between Poly Real Estate and Muyuan Foodstuff Co, you can compare the effects of market volatilities on Poly Real and Muyuan Foodstuff 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 Muyuan Foodstuff. Check out your portfolio center. Please also check ongoing floating volatility patterns of Poly Real and Muyuan Foodstuff.
Diversification Opportunities for Poly Real and Muyuan Foodstuff
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Poly and Muyuan is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Poly Real Estate and Muyuan Foodstuff Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Muyuan Foodstuff 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 Muyuan Foodstuff. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Muyuan Foodstuff has no effect on the direction of Poly Real i.e., Poly Real and Muyuan Foodstuff go up and down completely randomly.
Pair Corralation between Poly Real and Muyuan Foodstuff
Assuming the 90 days trading horizon Poly Real Estate is expected to under-perform the Muyuan Foodstuff. In addition to that, Poly Real is 1.29 times more volatile than Muyuan Foodstuff Co. It trades about -0.02 of its total potential returns per unit of risk. Muyuan Foodstuff Co is currently generating about -0.01 per unit of volatility. If you would invest 4,768 in Muyuan Foodstuff Co on September 5, 2024 and sell it today you would lose (675.00) from holding Muyuan Foodstuff Co or give up 14.16% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Poly Real Estate vs. Muyuan Foodstuff Co
Performance |
| Timeline |
| Poly Real Estate |
| Muyuan Foodstuff |
Poly Real and Muyuan Foodstuff Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Poly Real and Muyuan Foodstuff
The main advantage of trading using opposite Poly Real and Muyuan Foodstuff positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Poly Real position performs unexpectedly, Muyuan Foodstuff 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 Muyuan Foodstuff will offset losses from the drop in Muyuan Foodstuff's long position.| Poly Real vs. Jafron Biomedical Co | Poly Real vs. Guangzhou Boji Medical | Poly Real vs. Sichuan Hebang Biotechnology | Poly Real vs. Changchun BCHT Biotechnology |
| Muyuan Foodstuff vs. Poly Real Estate | Muyuan Foodstuff vs. China Vanke Co | Muyuan Foodstuff vs. China Merchants Shekou | Muyuan Foodstuff vs. Huafa Industrial 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 Global Correlations module to find global opportunities by holding instruments from different markets.
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