Correlation Between Guangxi Wuzhou and Sublime China
Specify exactly 2 symbols:
By analyzing existing cross correlation between Guangxi Wuzhou Communications and Sublime China Information, you can compare the effects of market volatilities on Guangxi Wuzhou and Sublime China 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 Guangxi Wuzhou with a short position of Sublime China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangxi Wuzhou and Sublime China.
Diversification Opportunities for Guangxi Wuzhou and Sublime China
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Guangxi and Sublime is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Guangxi Wuzhou Communications and Sublime China Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sublime China Information and Guangxi Wuzhou 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 Guangxi Wuzhou Communications are associated (or correlated) with Sublime China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sublime China Information has no effect on the direction of Guangxi Wuzhou i.e., Guangxi Wuzhou and Sublime China go up and down completely randomly.
Pair Corralation between Guangxi Wuzhou and Sublime China
Assuming the 90 days trading horizon Guangxi Wuzhou is expected to generate 2.6 times less return on investment than Sublime China. But when comparing it to its historical volatility, Guangxi Wuzhou Communications is 1.29 times less risky than Sublime China. It trades about 0.08 of its potential returns per unit of risk. Sublime China Information is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 5,830 in Sublime China Information on October 30, 2024 and sell it today you would earn a total of 2,178 from holding Sublime China Information or generate 37.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangxi Wuzhou Communications vs. Sublime China Information
Performance |
| Timeline |
| Guangxi Wuzhou Commu |
| Sublime China Information |
Guangxi Wuzhou and Sublime China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangxi Wuzhou and Sublime China
The main advantage of trading using opposite Guangxi Wuzhou and Sublime China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangxi Wuzhou position performs unexpectedly, Sublime China 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 Sublime China will offset losses from the drop in Sublime China's long position.| Guangxi Wuzhou vs. Industrial and Commercial | Guangxi Wuzhou vs. China Construction Bank | Guangxi Wuzhou vs. Agricultural Bank of | Guangxi Wuzhou vs. Bank of China |
| Sublime China vs. Luolai Home Textile | Sublime China vs. Western Metal Materials | Sublime China vs. Nanjing OLO Home | Sublime China vs. Pengxin International Mining |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Other Complementary Tools
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing |