Correlation Between Poly Real and Anshan Senyuan
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By analyzing existing cross correlation between Poly Real Estate and Anshan Senyuan Road, you can compare the effects of market volatilities on Poly Real and Anshan Senyuan 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 Anshan Senyuan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Poly Real and Anshan Senyuan.
Diversification Opportunities for Poly Real and Anshan Senyuan
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Poly and Anshan is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Poly Real Estate and Anshan Senyuan Road in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anshan Senyuan Road 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 Anshan Senyuan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anshan Senyuan Road has no effect on the direction of Poly Real i.e., Poly Real and Anshan Senyuan go up and down completely randomly.
Pair Corralation between Poly Real and Anshan Senyuan
Assuming the 90 days trading horizon Poly Real Estate is expected to generate 0.4 times more return on investment than Anshan Senyuan. However, Poly Real Estate is 2.5 times less risky than Anshan Senyuan. It trades about -0.51 of its potential returns per unit of risk. Anshan Senyuan Road is currently generating about -0.32 per unit of risk. If you would invest 1,003 in Poly Real Estate on October 11, 2024 and sell it today you would lose (139.00) from holding Poly Real Estate or give up 13.86% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Poly Real Estate vs. Anshan Senyuan Road
Performance |
| Timeline |
| Poly Real Estate |
| Anshan Senyuan Road |
Poly Real and Anshan Senyuan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Poly Real and Anshan Senyuan
The main advantage of trading using opposite Poly Real and Anshan Senyuan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Poly Real position performs unexpectedly, Anshan Senyuan 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 Anshan Senyuan will offset losses from the drop in Anshan Senyuan's long position.| Poly Real vs. Cultural Investment Holdings | Poly Real vs. Shenzhen Centralcon Investment | Poly Real vs. Keda Clean Energy | Poly Real vs. Jiangsu Jinling Sports |
| Anshan Senyuan vs. Beijing Mainstreets Investment | Anshan Senyuan vs. Ye Chiu Metal | Anshan Senyuan vs. Rising Nonferrous Metals | Anshan Senyuan vs. Guangdong Jingyi Metal |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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