Correlation Between Cultural Investment and Gansu Yasheng
Specify exactly 2 symbols:
By analyzing existing cross correlation between Cultural Investment Holdings and Gansu Yasheng Industrial, you can compare the effects of market volatilities on Cultural Investment and Gansu Yasheng 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 Gansu Yasheng. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Gansu Yasheng.
Diversification Opportunities for Cultural Investment and Gansu Yasheng
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cultural and Gansu is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Gansu Yasheng Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gansu Yasheng Industrial 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 Gansu Yasheng. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gansu Yasheng Industrial has no effect on the direction of Cultural Investment i.e., Cultural Investment and Gansu Yasheng go up and down completely randomly.
Pair Corralation between Cultural Investment and Gansu Yasheng
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 1.3 times more return on investment than Gansu Yasheng. However, Cultural Investment is 1.3 times more volatile than Gansu Yasheng Industrial. It trades about -0.12 of its potential returns per unit of risk. Gansu Yasheng Industrial is currently generating about -0.28 per unit of risk. If you would invest 234.00 in Cultural Investment Holdings on October 18, 2024 and sell it today you would lose (18.00) from holding Cultural Investment Holdings or give up 7.69% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Gansu Yasheng Industrial
Performance |
| Timeline |
| Cultural Investment |
| Gansu Yasheng Industrial |
Cultural Investment and Gansu Yasheng Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Gansu Yasheng
The main advantage of trading using opposite Cultural Investment and Gansu Yasheng positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Gansu Yasheng 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 Gansu Yasheng will offset losses from the drop in Gansu Yasheng's long position.| Cultural Investment vs. Sunny Loan Top | Cultural Investment vs. JCHX Mining Management | Cultural Investment vs. Keda Clean Energy | Cultural Investment vs. Cicc Fund Management |
| Gansu Yasheng vs. Zhengzhou Qianweiyangchu Food | Gansu Yasheng vs. Jiahe Foods Industry | Gansu Yasheng vs. Hangzhou Guotai Environmental | Gansu Yasheng vs. Central Plains Environment |
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.
Other Complementary Tools
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals |