Correlation Between Tianjin Realty and TS Communications
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By analyzing existing cross correlation between Tianjin Realty Development and TS Communications Co, you can compare the effects of market volatilities on Tianjin Realty and TS Communications 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 TS Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tianjin Realty and TS Communications.
Diversification Opportunities for Tianjin Realty and TS Communications
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Tianjin and 300570 is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Tianjin Realty Development and TS Communications Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TS Communications 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 TS Communications. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TS Communications has no effect on the direction of Tianjin Realty i.e., Tianjin Realty and TS Communications go up and down completely randomly.
Pair Corralation between Tianjin Realty and TS Communications
Assuming the 90 days trading horizon Tianjin Realty Development is expected to generate 1.19 times more return on investment than TS Communications. However, Tianjin Realty is 1.19 times more volatile than TS Communications Co. It trades about 0.16 of its potential returns per unit of risk. TS Communications Co is currently generating about -0.07 per unit of risk. If you would invest 204.00 in Tianjin Realty Development on August 27, 2024 and sell it today you would earn a total of 34.00 from holding Tianjin Realty Development or generate 16.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tianjin Realty Development vs. TS Communications Co
Performance |
| Timeline |
| Tianjin Realty Devel |
| TS Communications |
Tianjin Realty and TS Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tianjin Realty and TS Communications
The main advantage of trading using opposite Tianjin Realty and TS Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tianjin Realty position performs unexpectedly, TS Communications 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 TS Communications will offset losses from the drop in TS Communications' long position.| Tianjin Realty vs. Industrial and Commercial | Tianjin Realty vs. China Construction Bank | Tianjin Realty vs. Bank of China | Tianjin Realty vs. Agricultural Bank of |
| TS Communications vs. Shenzhen MYS Environmental | TS Communications vs. AVIC Fund Management | TS Communications vs. Shenzhen Bingchuan Network | TS Communications vs. Penghua Shenzhen Energy |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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