Correlation Between Gansu Jiu and Postal Savings
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By analyzing existing cross correlation between Gansu Jiu Steel and Postal Savings Bank, you can compare the effects of market volatilities on Gansu Jiu and Postal Savings 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 Gansu Jiu with a short position of Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gansu Jiu and Postal Savings.
Diversification Opportunities for Gansu Jiu and Postal Savings
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Gansu and Postal is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Gansu Jiu Steel and Postal Savings Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Postal Savings Bank and Gansu Jiu 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 Gansu Jiu Steel are associated (or correlated) with Postal Savings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Postal Savings Bank has no effect on the direction of Gansu Jiu i.e., Gansu Jiu and Postal Savings go up and down completely randomly.
Pair Corralation between Gansu Jiu and Postal Savings
Assuming the 90 days trading horizon Gansu Jiu Steel is expected to under-perform the Postal Savings. In addition to that, Gansu Jiu is 1.43 times more volatile than Postal Savings Bank. It trades about -0.49 of its total potential returns per unit of risk. Postal Savings Bank is currently generating about 0.01 per unit of volatility. If you would invest 555.00 in Postal Savings Bank on October 9, 2024 and sell it today you would earn a total of 0.00 from holding Postal Savings Bank or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gansu Jiu Steel vs. Postal Savings Bank
Performance |
| Timeline |
| Gansu Jiu Steel |
| Postal Savings Bank |
Gansu Jiu and Postal Savings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gansu Jiu and Postal Savings
The main advantage of trading using opposite Gansu Jiu and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gansu Jiu position performs unexpectedly, Postal Savings 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 Postal Savings will offset losses from the drop in Postal Savings' long position.| Gansu Jiu vs. Zijin Mining Group | Gansu Jiu vs. Wanhua Chemical Group | Gansu Jiu vs. Baoshan Iron Steel | Gansu Jiu vs. Shandong Gold Mining |
| Postal Savings vs. Industrial and Commercial | Postal Savings vs. China Construction Bank | Postal Savings vs. Agricultural Bank of | Postal Savings vs. Bank of China |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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