Correlation Between CSSC Offshore and Guangxi Wuzhou
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By analyzing existing cross correlation between CSSC Offshore Marine and Guangxi Wuzhou Communications, you can compare the effects of market volatilities on CSSC Offshore and Guangxi Wuzhou 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 Guangxi Wuzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSSC Offshore and Guangxi Wuzhou.
Diversification Opportunities for CSSC Offshore and Guangxi Wuzhou
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CSSC and Guangxi is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding CSSC Offshore Marine and Guangxi Wuzhou Communications in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangxi Wuzhou Commu 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 Guangxi Wuzhou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangxi Wuzhou Commu has no effect on the direction of CSSC Offshore i.e., CSSC Offshore and Guangxi Wuzhou go up and down completely randomly.
Pair Corralation between CSSC Offshore and Guangxi Wuzhou
Assuming the 90 days trading horizon CSSC Offshore is expected to generate 2.51 times less return on investment than Guangxi Wuzhou. In addition to that, CSSC Offshore is 1.01 times more volatile than Guangxi Wuzhou Communications. It trades about 0.01 of its total potential returns per unit of risk. Guangxi Wuzhou Communications is currently generating about 0.03 per unit of volatility. If you would invest 346.00 in Guangxi Wuzhou Communications on October 29, 2024 and sell it today you would earn a total of 88.00 from holding Guangxi Wuzhou Communications or generate 25.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CSSC Offshore Marine vs. Guangxi Wuzhou Communications
Performance |
| Timeline |
| CSSC Offshore Marine |
| Guangxi Wuzhou Commu |
CSSC Offshore and Guangxi Wuzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSSC Offshore and Guangxi Wuzhou
The main advantage of trading using opposite CSSC Offshore and Guangxi Wuzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSSC Offshore position performs unexpectedly, Guangxi Wuzhou 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 Guangxi Wuzhou will offset losses from the drop in Guangxi Wuzhou's long position.| CSSC Offshore vs. Anhui Transport Consulting | CSSC Offshore vs. Hubei Geoway Investment | CSSC Offshore vs. Beijing Mainstreets Investment | CSSC Offshore vs. Shenzhen Centralcon Investment |
| Guangxi Wuzhou vs. Cabio Biotech Wuhan | Guangxi Wuzhou vs. Holitech Technology Co | Guangxi Wuzhou vs. Sharetronic Data Technology | Guangxi Wuzhou vs. Lander Sports Development |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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