Correlation Between Inspur Software and Xiandai Investment
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By analyzing existing cross correlation between Inspur Software Co and Xiandai Investment Co, you can compare the effects of market volatilities on Inspur Software and Xiandai Investment 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 Inspur Software with a short position of Xiandai Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inspur Software and Xiandai Investment.
Diversification Opportunities for Inspur Software and Xiandai Investment
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Inspur and Xiandai is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Inspur Software Co and Xiandai Investment Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiandai Investment and Inspur Software 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 Inspur Software Co are associated (or correlated) with Xiandai Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiandai Investment has no effect on the direction of Inspur Software i.e., Inspur Software and Xiandai Investment go up and down completely randomly.
Pair Corralation between Inspur Software and Xiandai Investment
Assuming the 90 days trading horizon Inspur Software is expected to generate 2.54 times less return on investment than Xiandai Investment. In addition to that, Inspur Software is 1.85 times more volatile than Xiandai Investment Co. It trades about 0.0 of its total potential returns per unit of risk. Xiandai Investment Co is currently generating about 0.01 per unit of volatility. If you would invest 402.00 in Xiandai Investment Co on October 14, 2024 and sell it today you would earn a total of 9.00 from holding Xiandai Investment Co or generate 2.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Inspur Software Co vs. Xiandai Investment Co
Performance |
| Timeline |
| Inspur Software |
| Xiandai Investment |
Inspur Software and Xiandai Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inspur Software and Xiandai Investment
The main advantage of trading using opposite Inspur Software and Xiandai Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inspur Software position performs unexpectedly, Xiandai Investment 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 Xiandai Investment will offset losses from the drop in Xiandai Investment's long position.| Inspur Software vs. Luyin Investment Group | Inspur Software vs. Sichuan Fulin Transportation | Inspur Software vs. Kunwu Jiuding Investment | Inspur Software vs. Silkroad Visual Technology |
| Xiandai Investment vs. Shandong Hongchuang Aluminum | Xiandai Investment vs. Shanghai Yanpu Metal | Xiandai Investment vs. Zhejiang Yongjin Metal | Xiandai Investment vs. Inspur Software 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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