Correlation Between Cultural Investment and Senci Electric
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By analyzing existing cross correlation between Cultural Investment Holdings and Senci Electric Machinery, you can compare the effects of market volatilities on Cultural Investment and Senci Electric 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 Senci Electric. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Senci Electric.
Diversification Opportunities for Cultural Investment and Senci Electric
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Cultural and Senci is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Senci Electric Machinery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Senci Electric Machinery 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 Senci Electric. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Senci Electric Machinery has no effect on the direction of Cultural Investment i.e., Cultural Investment and Senci Electric go up and down completely randomly.
Pair Corralation between Cultural Investment and Senci Electric
Assuming the 90 days trading horizon Cultural Investment is expected to generate 1.08 times less return on investment than Senci Electric. In addition to that, Cultural Investment is 1.02 times more volatile than Senci Electric Machinery. It trades about 0.16 of its total potential returns per unit of risk. Senci Electric Machinery is currently generating about 0.17 per unit of volatility. If you would invest 1,234 in Senci Electric Machinery on September 12, 2024 and sell it today you would earn a total of 392.00 from holding Senci Electric Machinery or generate 31.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 98.28% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Senci Electric Machinery
Performance |
| Timeline |
| Cultural Investment |
| Senci Electric Machinery |
Cultural Investment and Senci Electric Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Senci Electric
The main advantage of trading using opposite Cultural Investment and Senci Electric positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Senci Electric 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 Senci Electric will offset losses from the drop in Senci Electric's long position.| Cultural Investment vs. Industrial and Commercial | Cultural Investment vs. China Construction Bank | Cultural Investment vs. Agricultural Bank of | Cultural Investment vs. Bank of China |
| Senci Electric vs. Zhongrun Resources Investment | Senci Electric vs. Beijing Mainstreets Investment | Senci Electric vs. China Asset Management | Senci Electric vs. Henan Shuanghui Investment |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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