Correlation Between Cultural Investment and SG Micro
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By analyzing existing cross correlation between Cultural Investment Holdings and SG Micro Corp, you can compare the effects of market volatilities on Cultural Investment and SG Micro 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 SG Micro. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and SG Micro.
Diversification Opportunities for Cultural Investment and SG Micro
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cultural and 300661 is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and SG Micro Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SG Micro Corp 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 SG Micro. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SG Micro Corp has no effect on the direction of Cultural Investment i.e., Cultural Investment and SG Micro go up and down completely randomly.
Pair Corralation between Cultural Investment and SG Micro
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 0.76 times more return on investment than SG Micro. However, Cultural Investment Holdings is 1.32 times less risky than SG Micro. It trades about 0.11 of its potential returns per unit of risk. SG Micro Corp is currently generating about 0.04 per unit of risk. If you would invest 158.00 in Cultural Investment Holdings on September 5, 2024 and sell it today you would earn a total of 67.00 from holding Cultural Investment Holdings or generate 42.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. SG Micro Corp
Performance |
| Timeline |
| Cultural Investment |
| SG Micro Corp |
Cultural Investment and SG Micro Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and SG Micro
The main advantage of trading using opposite Cultural Investment and SG Micro positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, SG Micro 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 SG Micro will offset losses from the drop in SG Micro's long position.| Cultural Investment vs. Anhui Gujing Distillery | Cultural Investment vs. Shandong Sinoglory Health | Cultural Investment vs. Shanghai Jinfeng Wine | Cultural Investment vs. Everjoy Health Group |
| SG Micro vs. Cultural Investment Holdings | SG Micro vs. Gome Telecom Equipment | SG Micro vs. Bus Online Co | SG Micro vs. Holitech Technology 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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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