Correlation Between V V and Changchun High
Specify exactly 2 symbols:
By analyzing existing cross correlation between V V Food and Changchun High New, you can compare the effects of market volatilities on V V and Changchun High 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 Changchun High. Check out your portfolio center. Please also check ongoing floating volatility patterns of V V and Changchun High.
Diversification Opportunities for V V and Changchun High
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 600300 and Changchun is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding V V Food and Changchun High New in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Changchun High New 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 Changchun High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Changchun High New has no effect on the direction of V V i.e., V V and Changchun High go up and down completely randomly.
Pair Corralation between V V and Changchun High
Assuming the 90 days trading horizon V V Food is expected to under-perform the Changchun High. In addition to that, V V is 1.46 times more volatile than Changchun High New. It trades about -0.02 of its total potential returns per unit of risk. Changchun High New is currently generating about 0.23 per unit of volatility. If you would invest 9,297 in Changchun High New on November 28, 2024 and sell it today you would earn a total of 398.00 from holding Changchun High New or generate 4.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 94.12% |
| Values | Daily Returns |
V V Food vs. Changchun High New
Performance |
| Timeline |
| V V Food |
| Changchun High New |
V V and Changchun High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with V V and Changchun High
The main advantage of trading using opposite V V and Changchun High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if V V position performs unexpectedly, Changchun High 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 Changchun High will offset losses from the drop in Changchun High's long position.| V V vs. Huawen Media Investment | V V vs. Harson Trading China | V V vs. Jiangsu Yueda Investment | V V vs. Postal Savings Bank |
| Changchun High vs. Jiahe Foods Industry | Changchun High vs. Suzhou Weizhixiang Food | Changchun High vs. Zhongyin Babi Food | Changchun High vs. Runjian Communication 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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |