Correlation Between Grandblue Environment and Guangdong Marubi
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By analyzing existing cross correlation between Grandblue Environment Co and Guangdong Marubi Biotechnology, you can compare the effects of market volatilities on Grandblue Environment and Guangdong Marubi 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 Grandblue Environment with a short position of Guangdong Marubi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grandblue Environment and Guangdong Marubi.
Diversification Opportunities for Grandblue Environment and Guangdong Marubi
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Grandblue and Guangdong is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Grandblue Environment Co and Guangdong Marubi Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong Marubi Bio and Grandblue Environment 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 Grandblue Environment Co are associated (or correlated) with Guangdong Marubi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong Marubi Bio has no effect on the direction of Grandblue Environment i.e., Grandblue Environment and Guangdong Marubi go up and down completely randomly.
Pair Corralation between Grandblue Environment and Guangdong Marubi
Assuming the 90 days trading horizon Grandblue Environment is expected to generate 1.09 times less return on investment than Guangdong Marubi. But when comparing it to its historical volatility, Grandblue Environment Co is 1.78 times less risky than Guangdong Marubi. It trades about 0.09 of its potential returns per unit of risk. Guangdong Marubi Biotechnology is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 2,448 in Guangdong Marubi Biotechnology on September 20, 2024 and sell it today you would earn a total of 754.00 from holding Guangdong Marubi Biotechnology or generate 30.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grandblue Environment Co vs. Guangdong Marubi Biotechnology
Performance |
| Timeline |
| Grandblue Environment |
| Guangdong Marubi Bio |
Grandblue Environment and Guangdong Marubi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grandblue Environment and Guangdong Marubi
The main advantage of trading using opposite Grandblue Environment and Guangdong Marubi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grandblue Environment position performs unexpectedly, Guangdong Marubi 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 Guangdong Marubi will offset losses from the drop in Guangdong Marubi's long position.| Grandblue Environment vs. Biwin Storage Technology | Grandblue Environment vs. PetroChina Co Ltd | Grandblue Environment vs. Industrial and Commercial | Grandblue Environment vs. China Construction Bank |
| Guangdong Marubi vs. Grandblue Environment Co | Guangdong Marubi vs. Tianjin Capital Environmental | Guangdong Marubi vs. Shenzhen MYS Environmental | Guangdong Marubi vs. Der International Home |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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