Correlation Between Poly Real and China United
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By analyzing existing cross correlation between Poly Real Estate and China United Network, you can compare the effects of market volatilities on Poly Real and China United 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 China United. Check out your portfolio center. Please also check ongoing floating volatility patterns of Poly Real and China United.
Diversification Opportunities for Poly Real and China United
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Poly and China is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Poly Real Estate and China United Network in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China United Network 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 China United. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China United Network has no effect on the direction of Poly Real i.e., Poly Real and China United go up and down completely randomly.
Pair Corralation between Poly Real and China United
Assuming the 90 days trading horizon Poly Real is expected to generate 73.51 times less return on investment than China United. But when comparing it to its historical volatility, Poly Real Estate is 2.66 times less risky than China United. It trades about 0.02 of its potential returns per unit of risk. China United Network is currently generating about 0.47 of returns per unit of risk over similar time horizon. If you would invest 489.00 in China United Network on November 28, 2024 and sell it today you would earn a total of 172.00 from holding China United Network or generate 35.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 94.12% |
| Values | Daily Returns |
Poly Real Estate vs. China United Network
Performance |
| Timeline |
| Poly Real Estate |
| China United Network |
Poly Real and China United Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Poly Real and China United
The main advantage of trading using opposite Poly Real and China United positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Poly Real position performs unexpectedly, China United 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 China United will offset losses from the drop in China United's long position.| Poly Real vs. Double Medical Technology | Poly Real vs. Winner Medical Co | Poly Real vs. Shandong Hongchuang Aluminum | Poly Real vs. CareRay Digital Medical |
| China United vs. Strait Innovation Internet | China United vs. Runjian Communication Co | China United vs. Jilin Jlu Communication | China United vs. Zijin Mining Group |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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