Correlation Between Chongqing Brewery and V V
Specify exactly 2 symbols:
By analyzing existing cross correlation between Chongqing Brewery Co and V V Food, you can compare the effects of market volatilities on Chongqing Brewery and V V 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 Chongqing Brewery with a short position of V V. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chongqing Brewery and V V.
Diversification Opportunities for Chongqing Brewery and V V
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Chongqing and 600300 is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Chongqing Brewery Co and V V Food in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on V V Food and Chongqing Brewery 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 Chongqing Brewery Co are associated (or correlated) with V V. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of V V Food has no effect on the direction of Chongqing Brewery i.e., Chongqing Brewery and V V go up and down completely randomly.
Pair Corralation between Chongqing Brewery and V V
Assuming the 90 days trading horizon Chongqing Brewery Co is expected to under-perform the V V. But the stock apears to be less risky and, when comparing its historical volatility, Chongqing Brewery Co is 1.92 times less risky than V V. The stock trades about -0.31 of its potential returns per unit of risk. The V V Food is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 301.00 in V V Food on November 5, 2024 and sell it today you would earn a total of 28.00 from holding V V Food or generate 9.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Chongqing Brewery Co vs. V V Food
Performance |
| Timeline |
| Chongqing Brewery |
| V V Food |
Chongqing Brewery and V V Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chongqing Brewery and V V
The main advantage of trading using opposite Chongqing Brewery and V V positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chongqing Brewery position performs unexpectedly, V V 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 V V will offset losses from the drop in V V's long position.| Chongqing Brewery vs. Heren Health Co | Chongqing Brewery vs. Konfoong Materials International | Chongqing Brewery vs. Advanced Technology Materials | Chongqing Brewery vs. Shenzhen Cotran New |
| V V vs. China Longyuan Power | V V vs. PetroChina Co Ltd | V V vs. Guangxi Guiguan Electric | V V vs. Yantai North Andre |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
Other Complementary Tools
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Money Managers Screen money managers from public funds and ETFs managed around the world |