Correlation Between Cultural Investment and Chongqing Sulian
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By analyzing existing cross correlation between Cultural Investment Holdings and Chongqing Sulian Plastic, you can compare the effects of market volatilities on Cultural Investment and Chongqing Sulian 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 Chongqing Sulian. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Chongqing Sulian.
Diversification Opportunities for Cultural Investment and Chongqing Sulian
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Cultural and Chongqing is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Chongqing Sulian Plastic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chongqing Sulian Plastic 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 Chongqing Sulian. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chongqing Sulian Plastic has no effect on the direction of Cultural Investment i.e., Cultural Investment and Chongqing Sulian go up and down completely randomly.
Pair Corralation between Cultural Investment and Chongqing Sulian
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 1.07 times more return on investment than Chongqing Sulian. However, Cultural Investment is 1.07 times more volatile than Chongqing Sulian Plastic. It trades about 0.02 of its potential returns per unit of risk. Chongqing Sulian Plastic is currently generating about 0.0 per unit of risk. If you would invest 239.00 in Cultural Investment Holdings on September 5, 2024 and sell it today you would lose (14.00) from holding Cultural Investment Holdings or give up 5.86% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 73.38% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Chongqing Sulian Plastic
Performance |
| Timeline |
| Cultural Investment |
| Chongqing Sulian Plastic |
Cultural Investment and Chongqing Sulian Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Chongqing Sulian
The main advantage of trading using opposite Cultural Investment and Chongqing Sulian positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Chongqing Sulian 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 Chongqing Sulian will offset losses from the drop in Chongqing Sulian'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 |
| Chongqing Sulian vs. Cultural Investment Holdings | Chongqing Sulian vs. Gome Telecom Equipment | Chongqing Sulian vs. Bus Online Co | Chongqing Sulian 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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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