Correlation Between Hainan HNA and Eastroc Beverage
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By analyzing existing cross correlation between Hainan HNA Infrastructure and Eastroc Beverage Group, you can compare the effects of market volatilities on Hainan HNA and Eastroc Beverage 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 Hainan HNA with a short position of Eastroc Beverage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hainan HNA and Eastroc Beverage.
Diversification Opportunities for Hainan HNA and Eastroc Beverage
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Hainan and Eastroc is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hainan HNA Infrastructure and Eastroc Beverage Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eastroc Beverage and Hainan HNA 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 Hainan HNA Infrastructure are associated (or correlated) with Eastroc Beverage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eastroc Beverage has no effect on the direction of Hainan HNA i.e., Hainan HNA and Eastroc Beverage go up and down completely randomly.
Pair Corralation between Hainan HNA and Eastroc Beverage
If you would invest 13,220 in Eastroc Beverage Group on October 16, 2024 and sell it today you would earn a total of 13,481 from holding Eastroc Beverage Group or generate 101.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.21% |
| Values | Daily Returns |
Hainan HNA Infrastructure vs. Eastroc Beverage Group
Performance |
| Timeline |
| Hainan HNA Infrastructure |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
| Eastroc Beverage |
Hainan HNA and Eastroc Beverage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hainan HNA and Eastroc Beverage
The main advantage of trading using opposite Hainan HNA and Eastroc Beverage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hainan HNA position performs unexpectedly, Eastroc Beverage 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 Eastroc Beverage will offset losses from the drop in Eastroc Beverage's long position.| Hainan HNA vs. Hangzhou Arcvideo Technology | Hainan HNA vs. Harvest Fund Management | Hainan HNA vs. Songz Automobile Air | Hainan HNA vs. Quectel Wireless Solutions |
| Eastroc Beverage vs. Guangdong Jinma Entertainment | Eastroc Beverage vs. Shanghai Yaoji Playing | Eastroc Beverage vs. Lander Sports Development | Eastroc Beverage vs. Beijing Enlight Media |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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