Correlation Between Xinjiang Tianrun and CSG Holding
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By analyzing existing cross correlation between Xinjiang Tianrun Dairy and CSG Holding Co, you can compare the effects of market volatilities on Xinjiang Tianrun and CSG 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 Xinjiang Tianrun with a short position of CSG Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xinjiang Tianrun and CSG Holding.
Diversification Opportunities for Xinjiang Tianrun and CSG Holding
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between Xinjiang and CSG is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding Xinjiang Tianrun Dairy and CSG Holding Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSG Holding and Xinjiang Tianrun 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 Xinjiang Tianrun Dairy are associated (or correlated) with CSG Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSG Holding has no effect on the direction of Xinjiang Tianrun i.e., Xinjiang Tianrun and CSG Holding go up and down completely randomly.
Pair Corralation between Xinjiang Tianrun and CSG Holding
Assuming the 90 days trading horizon Xinjiang Tianrun Dairy is expected to generate 1.88 times more return on investment than CSG Holding. However, Xinjiang Tianrun is 1.88 times more volatile than CSG Holding Co. It trades about -0.09 of its potential returns per unit of risk. CSG Holding Co is currently generating about -0.22 per unit of risk. If you would invest 986.00 in Xinjiang Tianrun Dairy on October 30, 2024 and sell it today you would lose (127.00) from holding Xinjiang Tianrun Dairy or give up 12.88% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 97.62% |
| Values | Daily Returns |
Xinjiang Tianrun Dairy vs. CSG Holding Co
Performance |
| Timeline |
| Xinjiang Tianrun Dairy |
| CSG Holding |
Xinjiang Tianrun and CSG Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xinjiang Tianrun and CSG Holding
The main advantage of trading using opposite Xinjiang Tianrun and CSG Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xinjiang Tianrun position performs unexpectedly, CSG 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 CSG Holding will offset losses from the drop in CSG Holding's long position.| Xinjiang Tianrun vs. XiaMen HongXin Electron tech | Xinjiang Tianrun vs. Ningbo MedicalSystem Biotechnology | Xinjiang Tianrun vs. Linewell Software Co | Xinjiang Tianrun vs. Dhc Software Co |
| CSG Holding vs. Chengtun Mining Group | CSG Holding vs. Iat Automobile Technology | CSG Holding vs. Zhejiang Qianjiang Motorcycle | CSG Holding vs. Ningbo Fangzheng Automobile |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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