Correlation Between Cultural Investment and Chison Medical
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By analyzing existing cross correlation between Cultural Investment Holdings and Chison Medical Technologies, you can compare the effects of market volatilities on Cultural Investment and Chison Medical 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 Chison Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Chison Medical.
Diversification Opportunities for Cultural Investment and Chison Medical
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cultural and Chison is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Chison Medical Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chison Medical Techn 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 Chison Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chison Medical Techn has no effect on the direction of Cultural Investment i.e., Cultural Investment and Chison Medical go up and down completely randomly.
Pair Corralation between Cultural Investment and Chison Medical
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 1.3 times more return on investment than Chison Medical. However, Cultural Investment is 1.3 times more volatile than Chison Medical Technologies. It trades about 0.03 of its potential returns per unit of risk. Chison Medical Technologies is currently generating about -0.01 per unit of risk. If you would invest 220.00 in Cultural Investment Holdings on September 12, 2024 and sell it today you would earn a total of 12.00 from holding Cultural Investment Holdings or generate 5.45% 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. Chison Medical Technologies
Performance |
| Timeline |
| Cultural Investment |
| Chison Medical Techn |
Cultural Investment and Chison Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Chison Medical
The main advantage of trading using opposite Cultural Investment and Chison Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Chison Medical 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 Chison Medical will offset losses from the drop in Chison Medical'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 |
| Chison Medical vs. Cultural Investment Holdings | Chison Medical vs. Gome Telecom Equipment | Chison Medical vs. Holitech Technology Co | Chison Medical 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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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