Correlation Between Shandong Homey and Guilin Seamild
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By analyzing existing cross correlation between Shandong Homey Aquatic and Guilin Seamild Foods, you can compare the effects of market volatilities on Shandong Homey and Guilin Seamild 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 Shandong Homey with a short position of Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shandong Homey and Guilin Seamild.
Diversification Opportunities for Shandong Homey and Guilin Seamild
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Shandong and Guilin is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Shandong Homey Aquatic and Guilin Seamild Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guilin Seamild Foods and Shandong Homey 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 Shandong Homey Aquatic are associated (or correlated) with Guilin Seamild. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guilin Seamild Foods has no effect on the direction of Shandong Homey i.e., Shandong Homey and Guilin Seamild go up and down completely randomly.
Pair Corralation between Shandong Homey and Guilin Seamild
Assuming the 90 days trading horizon Shandong Homey Aquatic is expected to under-perform the Guilin Seamild. In addition to that, Shandong Homey is 1.04 times more volatile than Guilin Seamild Foods. It trades about 0.0 of its total potential returns per unit of risk. Guilin Seamild Foods is currently generating about 0.02 per unit of volatility. If you would invest 1,444 in Guilin Seamild Foods on November 27, 2024 and sell it today you would earn a total of 171.00 from holding Guilin Seamild Foods or generate 11.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shandong Homey Aquatic vs. Guilin Seamild Foods
Performance |
| Timeline |
| Shandong Homey Aquatic |
| Guilin Seamild Foods |
Shandong Homey and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shandong Homey and Guilin Seamild
The main advantage of trading using opposite Shandong Homey and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shandong Homey position performs unexpectedly, Guilin Seamild 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 Guilin Seamild will offset losses from the drop in Guilin Seamild's long position.| Shandong Homey vs. Nancal Energy Saving Tech | Shandong Homey vs. Dhc Software Co | Shandong Homey vs. China Everbright Bank | Shandong Homey vs. Farsoon Technology Co |
| Guilin Seamild vs. BrightGene Bio Medical | Guilin Seamild vs. Guangdong Transtek Medical | Guilin Seamild vs. Allgens Medical Technology | Guilin Seamild vs. Xiangyu Medical 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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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