Correlation Between Cultural Investment and Sublime China
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By analyzing existing cross correlation between Cultural Investment Holdings and Sublime China Information, you can compare the effects of market volatilities on Cultural Investment and Sublime China 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 Sublime China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Sublime China.
Diversification Opportunities for Cultural Investment and Sublime China
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Cultural and Sublime is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Sublime China Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sublime China Information 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 Sublime China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sublime China Information has no effect on the direction of Cultural Investment i.e., Cultural Investment and Sublime China go up and down completely randomly.
Pair Corralation between Cultural Investment and Sublime China
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to under-perform the Sublime China. But the stock apears to be less risky and, when comparing its historical volatility, Cultural Investment Holdings is 1.92 times less risky than Sublime China. The stock trades about -0.1 of its potential returns per unit of risk. The Sublime China Information is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 5,486 in Sublime China Information on October 23, 2024 and sell it today you would earn a total of 590.00 from holding Sublime China Information or generate 10.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Sublime China Information
Performance |
| Timeline |
| Cultural Investment |
| Sublime China Information |
Cultural Investment and Sublime China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Sublime China
The main advantage of trading using opposite Cultural Investment and Sublime China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Sublime China 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 Sublime China will offset losses from the drop in Sublime China's long position.| Cultural Investment vs. Ping An Insurance | Cultural Investment vs. Financial Street Holdings | Cultural Investment vs. Western Metal Materials | Cultural Investment vs. Agricultural Bank of |
| Sublime China vs. Jiujiang Shanshui Technology | Sublime China vs. Olympic Circuit Technology | Sublime China vs. Hainan Airlines Co | Sublime China vs. Sharetronic Data Technology |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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