Correlation Between Tianjin Hi and Sublime China
Specify exactly 2 symbols:
By analyzing existing cross correlation between Tianjin Hi Tech Development and Sublime China Information, you can compare the effects of market volatilities on Tianjin Hi and Sublime China 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 Tianjin Hi with a short position of Sublime China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tianjin Hi and Sublime China.
Diversification Opportunities for Tianjin Hi and Sublime China
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Tianjin and Sublime is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Tianjin Hi Tech Development and Sublime China Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sublime China Information and Tianjin Hi 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 Tianjin Hi Tech Development are associated (or correlated) with Sublime China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sublime China Information has no effect on the direction of Tianjin Hi i.e., Tianjin Hi and Sublime China go up and down completely randomly.
Pair Corralation between Tianjin Hi and Sublime China
Assuming the 90 days trading horizon Tianjin Hi is expected to generate 3.51 times less return on investment than Sublime China. But when comparing it to its historical volatility, Tianjin Hi Tech Development is 1.81 times less risky than Sublime China. It trades about 0.08 of its potential returns per unit of risk. Sublime China Information is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 5,486 in Sublime China Information on October 22, 2024 and sell it today you would earn a total of 721.00 from holding Sublime China Information or generate 13.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tianjin Hi Tech Development vs. Sublime China Information
Performance |
| Timeline |
| Tianjin Hi Tech |
| Sublime China Information |
Tianjin Hi and Sublime China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tianjin Hi and Sublime China
The main advantage of trading using opposite Tianjin Hi and Sublime China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tianjin Hi position performs unexpectedly, Sublime China 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 Sublime China will offset losses from the drop in Sublime China's long position.| Tianjin Hi vs. Sublime China Information | Tianjin Hi vs. Zhuhai Comleader Information | Tianjin Hi vs. Invengo Information Technology | Tianjin Hi vs. Hangzhou Gisway Information |
| Sublime China vs. Beijing Yanjing Brewery | Sublime China vs. Yunnan Jianzhijia Health Chain | Sublime China vs. Citic Guoan Wine | Sublime China vs. Mingchen Health 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Other Complementary Tools
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |