Correlation Between Cultural Investment and Guangdong Marubi
Specify exactly 2 symbols:
By analyzing existing cross correlation between Cultural Investment Holdings and Guangdong Marubi Biotechnology, you can compare the effects of market volatilities on Cultural Investment and Guangdong Marubi 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 Guangdong Marubi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Guangdong Marubi.
Diversification Opportunities for Cultural Investment and Guangdong Marubi
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cultural and Guangdong is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Guangdong Marubi Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong Marubi Bio 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 Guangdong Marubi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong Marubi Bio has no effect on the direction of Cultural Investment i.e., Cultural Investment and Guangdong Marubi go up and down completely randomly.
Pair Corralation between Cultural Investment and Guangdong Marubi
Assuming the 90 days trading horizon Cultural Investment is expected to generate 26.15 times less return on investment than Guangdong Marubi. In addition to that, Cultural Investment is 1.07 times more volatile than Guangdong Marubi Biotechnology. It trades about 0.0 of its total potential returns per unit of risk. Guangdong Marubi Biotechnology is currently generating about 0.11 per unit of volatility. If you would invest 3,085 in Guangdong Marubi Biotechnology on September 14, 2024 and sell it today you would earn a total of 193.00 from holding Guangdong Marubi Biotechnology or generate 6.26% 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. Guangdong Marubi Biotechnology
Performance |
| Timeline |
| Cultural Investment |
| Guangdong Marubi Bio |
Cultural Investment and Guangdong Marubi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Guangdong Marubi
The main advantage of trading using opposite Cultural Investment and Guangdong Marubi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Guangdong Marubi 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 Guangdong Marubi will offset losses from the drop in Guangdong Marubi'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 |
| Guangdong Marubi vs. Agricultural Bank of | Guangdong Marubi vs. Industrial and Commercial | Guangdong Marubi vs. Bank of China | Guangdong Marubi vs. PetroChina Co Ltd |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Other Complementary Tools
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| 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 |