Correlation Between Tianjin Realty and Shanghai Shuixing
Specify exactly 2 symbols:
By analyzing existing cross correlation between Tianjin Realty Development and Shanghai Shuixing Home, you can compare the effects of market volatilities on Tianjin Realty and Shanghai Shuixing 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 Shanghai Shuixing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tianjin Realty and Shanghai Shuixing.
Diversification Opportunities for Tianjin Realty and Shanghai Shuixing
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Tianjin and Shanghai is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Tianjin Realty Development and Shanghai Shuixing Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Shuixing Home 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 Shanghai Shuixing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Shuixing Home has no effect on the direction of Tianjin Realty i.e., Tianjin Realty and Shanghai Shuixing go up and down completely randomly.
Pair Corralation between Tianjin Realty and Shanghai Shuixing
If you would invest 1,388 in Shanghai Shuixing Home on September 14, 2024 and sell it today you would earn a total of 416.00 from holding Shanghai Shuixing Home or generate 29.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Tianjin Realty Development vs. Shanghai Shuixing Home
Performance |
| Timeline |
| Tianjin Realty Devel |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
| Shanghai Shuixing Home |
Tianjin Realty and Shanghai Shuixing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tianjin Realty and Shanghai Shuixing
The main advantage of trading using opposite Tianjin Realty and Shanghai Shuixing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tianjin Realty position performs unexpectedly, Shanghai Shuixing 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 Shanghai Shuixing will offset losses from the drop in Shanghai Shuixing's long position.| Tianjin Realty vs. Zhejiang Xiantong RubberPlastic | Tianjin Realty vs. Spring Airlines Co | Tianjin Realty vs. Jiangsu Yanghe Brewery | Tianjin Realty vs. Juneyao Airlines |
| Shanghai Shuixing vs. Nanjing Putian Telecommunications | Shanghai Shuixing vs. Tianjin Realty Development | Shanghai Shuixing vs. Kangyue Technology Co | Shanghai Shuixing vs. Shenzhen Hifuture Electric |
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 CEOs Directory module to screen CEOs from public companies around the world.
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