Correlation Between Chongqing Department and Wuhan Yangtze
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By analyzing existing cross correlation between Chongqing Department Store and Wuhan Yangtze Communication, you can compare the effects of market volatilities on Chongqing Department and Wuhan Yangtze 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 Chongqing Department with a short position of Wuhan Yangtze. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chongqing Department and Wuhan Yangtze.
Diversification Opportunities for Chongqing Department and Wuhan Yangtze
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Chongqing and Wuhan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Chongqing Department Store and Wuhan Yangtze Communication in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wuhan Yangtze Commun and Chongqing Department 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 Chongqing Department Store are associated (or correlated) with Wuhan Yangtze. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wuhan Yangtze Commun has no effect on the direction of Chongqing Department i.e., Chongqing Department and Wuhan Yangtze go up and down completely randomly.
Pair Corralation between Chongqing Department and Wuhan Yangtze
If you would invest 2,226 in Wuhan Yangtze Communication on September 13, 2024 and sell it today you would earn a total of 745.00 from holding Wuhan Yangtze Communication or generate 33.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Chongqing Department Store vs. Wuhan Yangtze Communication
Performance |
| Timeline |
| Chongqing Department |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Wuhan Yangtze Commun |
Chongqing Department and Wuhan Yangtze Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chongqing Department and Wuhan Yangtze
The main advantage of trading using opposite Chongqing Department and Wuhan Yangtze positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chongqing Department position performs unexpectedly, Wuhan Yangtze 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 Wuhan Yangtze will offset losses from the drop in Wuhan Yangtze's long position.| Chongqing Department vs. Glodon Software Co | Chongqing Department vs. Tianjin Ruixin Technology | Chongqing Department vs. Uxi Unicomp Technology | Chongqing Department vs. ROPEOK Technology Group |
| Wuhan Yangtze vs. Industrial and Commercial | Wuhan Yangtze vs. China Construction Bank | Wuhan Yangtze vs. Bank of China | Wuhan Yangtze vs. Agricultural Bank of |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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