Correlation Between ButOne Information and China Everbright
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By analyzing existing cross correlation between ButOne Information Corp and China Everbright Bank, you can compare the effects of market volatilities on ButOne Information and China Everbright 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 ButOne Information with a short position of China Everbright. Check out your portfolio center. Please also check ongoing floating volatility patterns of ButOne Information and China Everbright.
Diversification Opportunities for ButOne Information and China Everbright
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between ButOne and China is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding ButOne Information Corp and China Everbright Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Everbright Bank and ButOne Information 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 ButOne Information Corp are associated (or correlated) with China Everbright. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Everbright Bank has no effect on the direction of ButOne Information i.e., ButOne Information and China Everbright go up and down completely randomly.
Pair Corralation between ButOne Information and China Everbright
Assuming the 90 days trading horizon ButOne Information is expected to generate 6.51 times less return on investment than China Everbright. In addition to that, ButOne Information is 1.42 times more volatile than China Everbright Bank. It trades about 0.01 of its total potential returns per unit of risk. China Everbright Bank is currently generating about 0.05 per unit of volatility. If you would invest 381.00 in China Everbright Bank on October 27, 2024 and sell it today you would earn a total of 6.00 from holding China Everbright Bank or generate 1.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ButOne Information Corp vs. China Everbright Bank
Performance |
| Timeline |
| ButOne Information Corp |
| China Everbright Bank |
ButOne Information and China Everbright Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ButOne Information and China Everbright
The main advantage of trading using opposite ButOne Information and China Everbright positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ButOne Information position performs unexpectedly, China Everbright 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 China Everbright will offset losses from the drop in China Everbright's long position.| ButOne Information vs. Heilongjiang Publishing Media | ButOne Information vs. Changjiang Publishing Media | ButOne Information vs. COL Digital Publishing | ButOne Information vs. Tonghua Grape Wine |
| China Everbright vs. Luyin Investment Group | China Everbright vs. Aba Chemicals Corp | China Everbright vs. Shenzhen Noposion Agrochemicals | China Everbright vs. Hubei Xingfa Chemicals |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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