Correlation Between Tianjin Realty and Risesun Real
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By analyzing existing cross correlation between Tianjin Realty Development and Risesun Real Estate, you can compare the effects of market volatilities on Tianjin Realty and Risesun Real 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 Tianjin Realty with a short position of Risesun Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tianjin Realty and Risesun Real.
Diversification Opportunities for Tianjin Realty and Risesun Real
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Tianjin and Risesun is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Tianjin Realty Development and Risesun Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Risesun Real Estate and Tianjin Realty 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 Tianjin Realty Development are associated (or correlated) with Risesun Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Risesun Real Estate has no effect on the direction of Tianjin Realty i.e., Tianjin Realty and Risesun Real go up and down completely randomly.
Pair Corralation between Tianjin Realty and Risesun Real
Assuming the 90 days trading horizon Tianjin Realty is expected to generate 4.4 times less return on investment than Risesun Real. But when comparing it to its historical volatility, Tianjin Realty Development is 1.18 times less risky than Risesun Real. It trades about 0.06 of its potential returns per unit of risk. Risesun Real Estate is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 179.00 in Risesun Real Estate on September 5, 2024 and sell it today you would earn a total of 45.00 from holding Risesun Real Estate or generate 25.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tianjin Realty Development vs. Risesun Real Estate
Performance |
| Timeline |
| Tianjin Realty Devel |
| Risesun Real Estate |
Tianjin Realty and Risesun Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tianjin Realty and Risesun Real
The main advantage of trading using opposite Tianjin Realty and Risesun Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tianjin Realty position performs unexpectedly, Risesun Real 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 Risesun Real will offset losses from the drop in Risesun Real's long position.| Tianjin Realty vs. Nanjing Putian Telecommunications | Tianjin Realty vs. Shenyang Huitian Thermal | Tianjin Realty vs. Shenzhen Changfang Light | Tianjin Realty vs. Jiangsu Xinning Modern |
| Risesun Real vs. Nanjing Putian Telecommunications | Risesun Real vs. Tianjin Realty Development | Risesun Real vs. Shenyang Huitian Thermal | Risesun Real vs. Shenzhen Changfang Light |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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