Correlation Between Cultural Investment and Dymatic Chemicals
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By analyzing existing cross correlation between Cultural Investment Holdings and Dymatic Chemicals, you can compare the effects of market volatilities on Cultural Investment and Dymatic Chemicals 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 Cultural Investment with a short position of Dymatic Chemicals. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Dymatic Chemicals.
Diversification Opportunities for Cultural Investment and Dymatic Chemicals
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Cultural and Dymatic is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Dymatic Chemicals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dymatic Chemicals and Cultural Investment 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 Cultural Investment Holdings are associated (or correlated) with Dymatic Chemicals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dymatic Chemicals has no effect on the direction of Cultural Investment i.e., Cultural Investment and Dymatic Chemicals go up and down completely randomly.
Pair Corralation between Cultural Investment and Dymatic Chemicals
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to under-perform the Dymatic Chemicals. In addition to that, Cultural Investment is 1.1 times more volatile than Dymatic Chemicals. It trades about -0.16 of its total potential returns per unit of risk. Dymatic Chemicals is currently generating about -0.02 per unit of volatility. If you would invest 603.00 in Dymatic Chemicals on October 28, 2024 and sell it today you would lose (7.00) from holding Dymatic Chemicals or give up 1.16% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Dymatic Chemicals
Performance |
| Timeline |
| Cultural Investment |
| Dymatic Chemicals |
Cultural Investment and Dymatic Chemicals Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Dymatic Chemicals
The main advantage of trading using opposite Cultural Investment and Dymatic Chemicals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Dymatic Chemicals 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 Dymatic Chemicals will offset losses from the drop in Dymatic Chemicals' long position.| Cultural Investment vs. China State Construction | Cultural Investment vs. Poly Real Estate | Cultural Investment vs. China Vanke Co | Cultural Investment vs. China Merchants Shekou |
| Dymatic Chemicals vs. Zijin Mining Group | Dymatic Chemicals vs. Wanhua Chemical Group | Dymatic Chemicals vs. Baoshan Iron Steel | Dymatic Chemicals vs. Shandong Gold Mining |
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 Correlations module to find global opportunities by holding instruments from different markets.
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