Correlation Between Cultural Investment and Shenzhen Fastprint
Specify exactly 2 symbols:
By analyzing existing cross correlation between Cultural Investment Holdings and Shenzhen Fastprint Circuit, you can compare the effects of market volatilities on Cultural Investment and Shenzhen Fastprint 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 Shenzhen Fastprint. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Shenzhen Fastprint.
Diversification Opportunities for Cultural Investment and Shenzhen Fastprint
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Cultural and Shenzhen is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Shenzhen Fastprint Circuit in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Fastprint 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 Shenzhen Fastprint. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Fastprint has no effect on the direction of Cultural Investment i.e., Cultural Investment and Shenzhen Fastprint go up and down completely randomly.
Pair Corralation between Cultural Investment and Shenzhen Fastprint
Assuming the 90 days trading horizon Cultural Investment is expected to generate 1.02 times less return on investment than Shenzhen Fastprint. But when comparing it to its historical volatility, Cultural Investment Holdings is 1.38 times less risky than Shenzhen Fastprint. It trades about 0.1 of its potential returns per unit of risk. Shenzhen Fastprint Circuit is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 1,122 in Shenzhen Fastprint Circuit on September 1, 2024 and sell it today you would earn a total of 64.00 from holding Shenzhen Fastprint Circuit or generate 5.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Shenzhen Fastprint Circuit
Performance |
| Timeline |
| Cultural Investment |
| Shenzhen Fastprint |
Cultural Investment and Shenzhen Fastprint Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Shenzhen Fastprint
The main advantage of trading using opposite Cultural Investment and Shenzhen Fastprint positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Shenzhen Fastprint 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 Shenzhen Fastprint will offset losses from the drop in Shenzhen Fastprint's long position.The idea behind Cultural Investment Holdings and Shenzhen Fastprint Circuit pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
| Shenzhen Fastprint vs. Shaanxi Meineng Clean | Shenzhen Fastprint vs. Luyin Investment Group | Shenzhen Fastprint vs. Kangping Technology Co | Shenzhen Fastprint vs. Metro Investment 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals |