Correlation Between Cultural Investment and Qilu Bank
Specify exactly 2 symbols:
By analyzing existing cross correlation between Cultural Investment Holdings and Qilu Bank Co, you can compare the effects of market volatilities on Cultural Investment and Qilu Bank 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 Qilu Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Qilu Bank.
Diversification Opportunities for Cultural Investment and Qilu Bank
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cultural and Qilu is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Qilu Bank Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qilu Bank 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 Qilu Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qilu Bank has no effect on the direction of Cultural Investment i.e., Cultural Investment and Qilu Bank go up and down completely randomly.
Pair Corralation between Cultural Investment and Qilu Bank
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to under-perform the Qilu Bank. In addition to that, Cultural Investment is 1.33 times more volatile than Qilu Bank Co. It trades about -0.24 of its total potential returns per unit of risk. Qilu Bank Co is currently generating about 0.01 per unit of volatility. If you would invest 541.00 in Qilu Bank Co on October 25, 2024 and sell it today you would earn a total of 1.00 from holding Qilu Bank Co or generate 0.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Qilu Bank Co
Performance |
| Timeline |
| Cultural Investment |
| Qilu Bank |
Cultural Investment and Qilu Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Qilu Bank
The main advantage of trading using opposite Cultural Investment and Qilu Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Qilu Bank 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 Qilu Bank will offset losses from the drop in Qilu Bank's long position.| Cultural Investment vs. Yingde Greatchem Chemicals | Cultural Investment vs. MayAir Technology Co | Cultural Investment vs. Beijing Kingsoft Office | Cultural Investment vs. Southchip Semiconductor Technology |
| Qilu Bank vs. Bank of China | Qilu Bank vs. Kweichow Moutai Co | Qilu Bank vs. PetroChina Co Ltd | Qilu Bank vs. Bank of Communications |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Other Complementary Tools
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing |