Correlation Between Beijing Sanyuan and Poly Real
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By analyzing existing cross correlation between Beijing Sanyuan Foods and Poly Real Estate, you can compare the effects of market volatilities on Beijing Sanyuan and Poly Real 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 Beijing Sanyuan with a short position of Poly Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Sanyuan and Poly Real.
Diversification Opportunities for Beijing Sanyuan and Poly Real
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Beijing and Poly is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Sanyuan Foods and Poly Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Poly Real Estate and Beijing Sanyuan 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 Beijing Sanyuan Foods are associated (or correlated) with Poly Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poly Real Estate has no effect on the direction of Beijing Sanyuan i.e., Beijing Sanyuan and Poly Real go up and down completely randomly.
Pair Corralation between Beijing Sanyuan and Poly Real
Assuming the 90 days trading horizon Beijing Sanyuan Foods is expected to generate 0.9 times more return on investment than Poly Real. However, Beijing Sanyuan Foods is 1.11 times less risky than Poly Real. It trades about 0.12 of its potential returns per unit of risk. Poly Real Estate is currently generating about -0.12 per unit of risk. If you would invest 432.00 in Beijing Sanyuan Foods on September 1, 2024 and sell it today you would earn a total of 19.00 from holding Beijing Sanyuan Foods or generate 4.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Sanyuan Foods vs. Poly Real Estate
Performance |
| Timeline |
| Beijing Sanyuan Foods |
| Poly Real Estate |
Beijing Sanyuan and Poly Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Sanyuan and Poly Real
The main advantage of trading using opposite Beijing Sanyuan and Poly Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Sanyuan position performs unexpectedly, Poly Real 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 Poly Real will offset losses from the drop in Poly Real's long position.| Beijing Sanyuan vs. Nanjing Putian Telecommunications | Beijing Sanyuan vs. Shenzhen Hifuture Electric | Beijing Sanyuan vs. Tianjin Realty Development | Beijing Sanyuan vs. Shenyang Huitian Thermal |
| Poly Real vs. Anji Foodstuff Co | Poly Real vs. Beijing Sanyuan Foods | Poly Real vs. Xinjiang Tianrun Dairy | Poly Real vs. Jiahe Foods Industry |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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