Correlation Between Huafa Industrial and 5I5j Holding
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By analyzing existing cross correlation between Huafa Industrial Co and 5I5j Holding Group, you can compare the effects of market volatilities on Huafa Industrial and 5I5j Holding 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 Huafa Industrial with a short position of 5I5j Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Huafa Industrial and 5I5j Holding.
Diversification Opportunities for Huafa Industrial and 5I5j Holding
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Huafa and 5I5j is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Huafa Industrial Co and 5I5j Holding Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 5I5j Holding Group and Huafa Industrial 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 Huafa Industrial Co are associated (or correlated) with 5I5j Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 5I5j Holding Group has no effect on the direction of Huafa Industrial i.e., Huafa Industrial and 5I5j Holding go up and down completely randomly.
Pair Corralation between Huafa Industrial and 5I5j Holding
If you would invest (100.00) in 5I5j Holding Group on October 28, 2024 and sell it today you would earn a total of 100.00 from holding 5I5j Holding Group or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Huafa Industrial Co vs. 5I5j Holding Group
Performance |
| Timeline |
| Huafa Industrial |
| 5I5j Holding Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Huafa Industrial and 5I5j Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Huafa Industrial and 5I5j Holding
The main advantage of trading using opposite Huafa Industrial and 5I5j Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Huafa Industrial position performs unexpectedly, 5I5j Holding 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 5I5j Holding will offset losses from the drop in 5I5j Holding's long position.| Huafa Industrial vs. State Grid InformationCommunication | Huafa Industrial vs. Guangxi Wuzhou Communications | Huafa Industrial vs. Zhejiang Yongjin Metal | Huafa Industrial vs. Railway Signal Communication |
| 5I5j Holding vs. China Aluminum International | 5I5j Holding vs. Shenzhen Bioeasy Biotechnology | 5I5j Holding vs. Guangdong Jingyi Metal | 5I5j Holding vs. CITIC Metal Co |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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