Correlation Between Cultural Investment and Humanwell Healthcare
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By analyzing existing cross correlation between Cultural Investment Holdings and Humanwell Healthcare Group, you can compare the effects of market volatilities on Cultural Investment and Humanwell Healthcare 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 Humanwell Healthcare. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Humanwell Healthcare.
Diversification Opportunities for Cultural Investment and Humanwell Healthcare
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cultural and Humanwell is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Humanwell Healthcare Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Humanwell Healthcare 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 Humanwell Healthcare. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Humanwell Healthcare has no effect on the direction of Cultural Investment i.e., Cultural Investment and Humanwell Healthcare go up and down completely randomly.
Pair Corralation between Cultural Investment and Humanwell Healthcare
Assuming the 90 days trading horizon Cultural Investment is expected to generate 5.46 times less return on investment than Humanwell Healthcare. In addition to that, Cultural Investment is 1.34 times more volatile than Humanwell Healthcare Group. It trades about 0.03 of its total potential returns per unit of risk. Humanwell Healthcare Group is currently generating about 0.2 per unit of volatility. If you would invest 2,185 in Humanwell Healthcare Group on September 12, 2024 and sell it today you would earn a total of 227.00 from holding Humanwell Healthcare Group or generate 10.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Humanwell Healthcare Group
Performance |
| Timeline |
| Cultural Investment |
| Humanwell Healthcare |
Cultural Investment and Humanwell Healthcare Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Humanwell Healthcare
The main advantage of trading using opposite Cultural Investment and Humanwell Healthcare positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Humanwell Healthcare 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 Humanwell Healthcare will offset losses from the drop in Humanwell Healthcare's long position.| Cultural Investment vs. Kweichow Moutai Co | Cultural Investment vs. Shenzhen Mindray Bio Medical | Cultural Investment vs. G bits Network Technology | Cultural Investment vs. Beijing Roborock Technology |
| Humanwell Healthcare vs. Cultural Investment Holdings | Humanwell Healthcare vs. Gome Telecom Equipment | Humanwell Healthcare vs. Holitech Technology Co | Humanwell Healthcare vs. Zotye Automobile 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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