Correlation Between Saurer Intelligent and Shenzhen Transsion
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By analyzing existing cross correlation between Saurer Intelligent Technology and Shenzhen Transsion Holdings, you can compare the effects of market volatilities on Saurer Intelligent and Shenzhen Transsion 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 Saurer Intelligent with a short position of Shenzhen Transsion. Check out your portfolio center. Please also check ongoing floating volatility patterns of Saurer Intelligent and Shenzhen Transsion.
Diversification Opportunities for Saurer Intelligent and Shenzhen Transsion
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Saurer and Shenzhen is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Saurer Intelligent Technology and Shenzhen Transsion Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Transsion and Saurer Intelligent 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 Saurer Intelligent Technology are associated (or correlated) with Shenzhen Transsion. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Transsion has no effect on the direction of Saurer Intelligent i.e., Saurer Intelligent and Shenzhen Transsion go up and down completely randomly.
Pair Corralation between Saurer Intelligent and Shenzhen Transsion
Assuming the 90 days trading horizon Saurer Intelligent Technology is expected to generate 1.04 times more return on investment than Shenzhen Transsion. However, Saurer Intelligent is 1.04 times more volatile than Shenzhen Transsion Holdings. It trades about 0.04 of its potential returns per unit of risk. Shenzhen Transsion Holdings is currently generating about -0.01 per unit of risk. If you would invest 272.00 in Saurer Intelligent Technology on September 12, 2024 and sell it today you would earn a total of 59.00 from holding Saurer Intelligent Technology or generate 21.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Saurer Intelligent Technology vs. Shenzhen Transsion Holdings
Performance |
| Timeline |
| Saurer Intelligent |
| Shenzhen Transsion |
Saurer Intelligent and Shenzhen Transsion Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Saurer Intelligent and Shenzhen Transsion
The main advantage of trading using opposite Saurer Intelligent and Shenzhen Transsion positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Saurer Intelligent position performs unexpectedly, Shenzhen Transsion 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 Shenzhen Transsion will offset losses from the drop in Shenzhen Transsion's long position.| Saurer Intelligent vs. Agricultural Bank of | Saurer Intelligent vs. Industrial and Commercial | Saurer Intelligent vs. Bank of China | Saurer Intelligent vs. PetroChina Co Ltd |
| Shenzhen Transsion vs. State Grid InformationCommunication | Shenzhen Transsion vs. Saurer Intelligent Technology | Shenzhen Transsion vs. Changchun UP Optotech | Shenzhen Transsion vs. Jiangxi Hengda Hi Tech |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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