Correlation Between V V and Smartgiant Technology
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By analyzing existing cross correlation between V V Food and Smartgiant Technology Co, you can compare the effects of market volatilities on V V and Smartgiant Technology 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 Smartgiant Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of V V and Smartgiant Technology.
Diversification Opportunities for V V and Smartgiant Technology
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between 600300 and Smartgiant is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding V V Food and Smartgiant Technology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Smartgiant Technology 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 Smartgiant Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Smartgiant Technology has no effect on the direction of V V i.e., V V and Smartgiant Technology go up and down completely randomly.
Pair Corralation between V V and Smartgiant Technology
Assuming the 90 days trading horizon V V Food is expected to generate 0.96 times more return on investment than Smartgiant Technology. However, V V Food is 1.04 times less risky than Smartgiant Technology. It trades about 0.19 of its potential returns per unit of risk. Smartgiant Technology Co is currently generating about -0.08 per unit of risk. If you would invest 301.00 in V V Food on November 6, 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 Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
V V Food vs. Smartgiant Technology Co
Performance |
| Timeline |
| V V Food |
| Smartgiant Technology |
V V and Smartgiant Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with V V and Smartgiant Technology
The main advantage of trading using opposite V V and Smartgiant Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if V V position performs unexpectedly, Smartgiant Technology 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 Smartgiant Technology will offset losses from the drop in Smartgiant Technology's long position.| V V vs. Shandong Polymer Biochemicals | V V vs. Hefei Metalforming Mach | V V vs. Do Fluoride Chemicals Co | V V vs. Rising Nonferrous Metals |
| Smartgiant Technology vs. Anji Foodstuff Co | Smartgiant Technology vs. Hefei Metalforming Mach | Smartgiant Technology vs. CITIC Metal Co | Smartgiant Technology vs. Guilin Seamild Foods |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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