Correlation Between Inspur Software and Shanghai Ziyan
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By analyzing existing cross correlation between Inspur Software Co and Shanghai Ziyan Foods, you can compare the effects of market volatilities on Inspur Software and Shanghai Ziyan 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 Shanghai Ziyan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inspur Software and Shanghai Ziyan.
Diversification Opportunities for Inspur Software and Shanghai Ziyan
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Inspur and Shanghai is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Inspur Software Co and Shanghai Ziyan Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Ziyan Foods 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 Shanghai Ziyan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Ziyan Foods has no effect on the direction of Inspur Software i.e., Inspur Software and Shanghai Ziyan go up and down completely randomly.
Pair Corralation between Inspur Software and Shanghai Ziyan
Assuming the 90 days trading horizon Inspur Software Co is expected to generate 1.18 times more return on investment than Shanghai Ziyan. However, Inspur Software is 1.18 times more volatile than Shanghai Ziyan Foods. It trades about 0.0 of its potential returns per unit of risk. Shanghai Ziyan Foods is currently generating about -0.03 per unit of risk. If you would invest 1,545 in Inspur Software Co on October 14, 2024 and sell it today you would lose (221.00) from holding Inspur Software Co or give up 14.3% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Inspur Software Co vs. Shanghai Ziyan Foods
Performance |
| Timeline |
| Inspur Software |
| Shanghai Ziyan Foods |
Inspur Software and Shanghai Ziyan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inspur Software and Shanghai Ziyan
The main advantage of trading using opposite Inspur Software and Shanghai Ziyan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inspur Software position performs unexpectedly, Shanghai Ziyan 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 Shanghai Ziyan will offset losses from the drop in Shanghai Ziyan'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 |
| Shanghai Ziyan vs. Xiamen Bank Co | Shanghai Ziyan vs. Inspur Software Co | Shanghai Ziyan vs. China Everbright Bank | Shanghai Ziyan vs. Jiangsu Financial Leasing |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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