Correlation Between Cultural Investment and Beijing UniStrong
Specify exactly 2 symbols:
By analyzing existing cross correlation between Cultural Investment Holdings and Beijing UniStrong Science, you can compare the effects of market volatilities on Cultural Investment and Beijing UniStrong 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 Beijing UniStrong. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Beijing UniStrong.
Diversification Opportunities for Cultural Investment and Beijing UniStrong
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cultural and Beijing is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Beijing UniStrong Science in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing UniStrong Science 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 Beijing UniStrong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing UniStrong Science has no effect on the direction of Cultural Investment i.e., Cultural Investment and Beijing UniStrong go up and down completely randomly.
Pair Corralation between Cultural Investment and Beijing UniStrong
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 0.87 times more return on investment than Beijing UniStrong. However, Cultural Investment Holdings is 1.15 times less risky than Beijing UniStrong. It trades about -0.1 of its potential returns per unit of risk. Beijing UniStrong Science is currently generating about -0.24 per unit of risk. If you would invest 219.00 in Cultural Investment Holdings on October 23, 2024 and sell it today you would lose (12.00) from holding Cultural Investment Holdings or give up 5.48% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Beijing UniStrong Science
Performance |
| Timeline |
| Cultural Investment |
| Beijing UniStrong Science |
Cultural Investment and Beijing UniStrong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Beijing UniStrong
The main advantage of trading using opposite Cultural Investment and Beijing UniStrong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Beijing UniStrong 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 Beijing UniStrong will offset losses from the drop in Beijing UniStrong's long position.| Cultural Investment vs. Nexchip Semiconductor Corp | Cultural Investment vs. Shannon Semiconductor Technology | Cultural Investment vs. Xinjiang Baodi Mining | Cultural Investment vs. Shengda Mining Co |
| Beijing UniStrong vs. Kuang Chi Technologies | Beijing UniStrong vs. Nanjing Putian Telecommunications | Beijing UniStrong vs. Ningbo Tech Bank Co | Beijing UniStrong vs. Postal Savings Bank |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world |