Correlation Between Poly Real and Shanghai AtHub
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By analyzing existing cross correlation between Poly Real Estate and Shanghai AtHub Co, you can compare the effects of market volatilities on Poly Real and Shanghai AtHub 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 Shanghai AtHub. Check out your portfolio center. Please also check ongoing floating volatility patterns of Poly Real and Shanghai AtHub.
Diversification Opportunities for Poly Real and Shanghai AtHub
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Poly and Shanghai is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Poly Real Estate and Shanghai AtHub Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai AtHub 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 Shanghai AtHub. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai AtHub has no effect on the direction of Poly Real i.e., Poly Real and Shanghai AtHub go up and down completely randomly.
Pair Corralation between Poly Real and Shanghai AtHub
Assuming the 90 days trading horizon Poly Real Estate is expected to under-perform the Shanghai AtHub. But the stock apears to be less risky and, when comparing its historical volatility, Poly Real Estate is 4.54 times less risky than Shanghai AtHub. The stock trades about -0.32 of its potential returns per unit of risk. The Shanghai AtHub Co is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 1,702 in Shanghai AtHub Co on October 17, 2024 and sell it today you would earn a total of 156.00 from holding Shanghai AtHub Co or generate 9.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Poly Real Estate vs. Shanghai AtHub Co
Performance |
| Timeline |
| Poly Real Estate |
| Shanghai AtHub |
Poly Real and Shanghai AtHub Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Poly Real and Shanghai AtHub
The main advantage of trading using opposite Poly Real and Shanghai AtHub positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Poly Real position performs unexpectedly, Shanghai AtHub 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 Shanghai AtHub will offset losses from the drop in Shanghai AtHub's long position.| Poly Real vs. Shenzhen Kexin Communication | Poly Real vs. Guangdong Shenglu Telecommunication | Poly Real vs. TianJin 712 Communication | Poly Real vs. Nanjing Putian Telecommunications |
| Shanghai AtHub vs. China State Construction | Shanghai AtHub vs. Poly Real Estate | Shanghai AtHub vs. China Vanke Co | Shanghai AtHub vs. China Merchants Shekou |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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