Correlation Between CSSC Offshore and Geron
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By analyzing existing cross correlation between CSSC Offshore Marine and Geron Co, you can compare the effects of market volatilities on CSSC Offshore and Geron 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 CSSC Offshore with a short position of Geron. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSSC Offshore and Geron.
Diversification Opportunities for CSSC Offshore and Geron
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between CSSC and Geron is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding CSSC Offshore Marine and Geron Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Geron and CSSC Offshore 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 CSSC Offshore Marine are associated (or correlated) with Geron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Geron has no effect on the direction of CSSC Offshore i.e., CSSC Offshore and Geron go up and down completely randomly.
Pair Corralation between CSSC Offshore and Geron
Assuming the 90 days trading horizon CSSC Offshore is expected to generate 2.28 times less return on investment than Geron. But when comparing it to its historical volatility, CSSC Offshore Marine is 1.35 times less risky than Geron. It trades about 0.02 of its potential returns per unit of risk. Geron Co is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 1,543 in Geron Co on September 14, 2024 and sell it today you would earn a total of 192.00 from holding Geron Co or generate 12.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.62% |
| Values | Daily Returns |
CSSC Offshore Marine vs. Geron Co
Performance |
| Timeline |
| CSSC Offshore Marine |
| Geron |
CSSC Offshore and Geron Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSSC Offshore and Geron
The main advantage of trading using opposite CSSC Offshore and Geron positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSSC Offshore position performs unexpectedly, Geron 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 Geron will offset losses from the drop in Geron's long position.| CSSC Offshore vs. Industrial and Commercial | CSSC Offshore vs. Agricultural Bank of | CSSC Offshore vs. China Construction Bank | CSSC Offshore vs. Bank of China |
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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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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