Correlation Between CSSC Offshore and Postal Savings
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By analyzing existing cross correlation between CSSC Offshore Marine and Postal Savings Bank, you can compare the effects of market volatilities on CSSC Offshore and Postal Savings 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 Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSSC Offshore and Postal Savings.
Diversification Opportunities for CSSC Offshore and Postal Savings
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between CSSC and Postal is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding CSSC Offshore Marine and Postal Savings Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Postal Savings Bank 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 Postal Savings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Postal Savings Bank has no effect on the direction of CSSC Offshore i.e., CSSC Offshore and Postal Savings go up and down completely randomly.
Pair Corralation between CSSC Offshore and Postal Savings
Assuming the 90 days trading horizon CSSC Offshore is expected to generate 9.43 times less return on investment than Postal Savings. In addition to that, CSSC Offshore is 1.4 times more volatile than Postal Savings Bank. It trades about 0.01 of its total potential returns per unit of risk. Postal Savings Bank is currently generating about 0.18 per unit of volatility. If you would invest 454.00 in Postal Savings Bank on September 12, 2024 and sell it today you would earn a total of 93.00 from holding Postal Savings Bank or generate 20.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CSSC Offshore Marine vs. Postal Savings Bank
Performance |
| Timeline |
| CSSC Offshore Marine |
| Postal Savings Bank |
CSSC Offshore and Postal Savings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSSC Offshore and Postal Savings
The main advantage of trading using opposite CSSC Offshore and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSSC Offshore position performs unexpectedly, Postal Savings 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 Postal Savings will offset losses from the drop in Postal Savings' 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 |
| Postal Savings vs. Cultural Investment Holdings | Postal Savings vs. Gome Telecom Equipment | Postal Savings vs. Holitech Technology Co | Postal Savings vs. Zotye Automobile 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 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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