Correlation Between Cultural Investment and Hangzhou Minsheng
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By analyzing existing cross correlation between Cultural Investment Holdings and Hangzhou Minsheng Healthcare, you can compare the effects of market volatilities on Cultural Investment and Hangzhou Minsheng 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 Hangzhou Minsheng. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Hangzhou Minsheng.
Diversification Opportunities for Cultural Investment and Hangzhou Minsheng
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cultural and Hangzhou is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Hangzhou Minsheng Healthcare in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hangzhou Minsheng 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 Hangzhou Minsheng. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hangzhou Minsheng has no effect on the direction of Cultural Investment i.e., Cultural Investment and Hangzhou Minsheng go up and down completely randomly.
Pair Corralation between Cultural Investment and Hangzhou Minsheng
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 1.07 times more return on investment than Hangzhou Minsheng. However, Cultural Investment is 1.07 times more volatile than Hangzhou Minsheng Healthcare. It trades about 0.01 of its potential returns per unit of risk. Hangzhou Minsheng Healthcare is currently generating about -0.06 per unit of risk. If you would invest 242.00 in Cultural Investment Holdings on September 3, 2024 and sell it today you would lose (22.00) from holding Cultural Investment Holdings or give up 9.09% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 62.68% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Hangzhou Minsheng Healthcare
Performance |
| Timeline |
| Cultural Investment |
| Hangzhou Minsheng |
Cultural Investment and Hangzhou Minsheng Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Hangzhou Minsheng
The main advantage of trading using opposite Cultural Investment and Hangzhou Minsheng positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Hangzhou Minsheng 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 Hangzhou Minsheng will offset losses from the drop in Hangzhou Minsheng's long position.| Cultural Investment vs. Anji Foodstuff Co | Cultural Investment vs. Shenzhen Clou Electronics | Cultural Investment vs. Muyuan Foodstuff Co | Cultural Investment vs. Leyard Optoelectronic |
| Hangzhou Minsheng vs. Shenzhen Centralcon Investment | Hangzhou Minsheng vs. HeNan Splendor Science | Hangzhou Minsheng vs. Guosheng Financial Holding | Hangzhou Minsheng vs. Ningbo Tech Bank 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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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