Correlation Between V V and Beijing Mainstreets
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By analyzing existing cross correlation between V V Food and Beijing Mainstreets Investment, you can compare the effects of market volatilities on V V and Beijing Mainstreets 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 V V with a short position of Beijing Mainstreets. Check out your portfolio center. Please also check ongoing floating volatility patterns of V V and Beijing Mainstreets.
Diversification Opportunities for V V and Beijing Mainstreets
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between 600300 and Beijing is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding V V Food and Beijing Mainstreets Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Mainstreets and V V 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 V V Food are associated (or correlated) with Beijing Mainstreets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Mainstreets has no effect on the direction of V V i.e., V V and Beijing Mainstreets go up and down completely randomly.
Pair Corralation between V V and Beijing Mainstreets
Assuming the 90 days trading horizon V V Food is expected to generate 0.92 times more return on investment than Beijing Mainstreets. However, V V Food is 1.08 times less risky than Beijing Mainstreets. It trades about 0.47 of its potential returns per unit of risk. Beijing Mainstreets Investment is currently generating about -0.19 per unit of risk. If you would invest 296.00 in V V Food on September 15, 2024 and sell it today you would earn a total of 102.00 from holding V V Food or generate 34.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
V V Food vs. Beijing Mainstreets Investment
Performance |
| Timeline |
| V V Food |
| Beijing Mainstreets |
V V and Beijing Mainstreets Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with V V and Beijing Mainstreets
The main advantage of trading using opposite V V and Beijing Mainstreets positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if V V position performs unexpectedly, Beijing Mainstreets 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 Beijing Mainstreets will offset losses from the drop in Beijing Mainstreets' long position.| V V vs. Nanjing Putian Telecommunications | V V vs. Tianjin Realty Development | V V vs. Kangyue Technology Co | V V vs. Shenzhen Hifuture Electric |
| Beijing Mainstreets vs. V V Food | Beijing Mainstreets vs. Juewei Food Co | Beijing Mainstreets vs. Sichuan Fulin Transportation | Beijing Mainstreets vs. Xinjiang Tianrun Dairy |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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