Correlation Between Inspur Software and Suzhou Xingye
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By analyzing existing cross correlation between Inspur Software Co and Suzhou Xingye Material, you can compare the effects of market volatilities on Inspur Software and Suzhou Xingye 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 Suzhou Xingye. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inspur Software and Suzhou Xingye.
Diversification Opportunities for Inspur Software and Suzhou Xingye
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Inspur and Suzhou is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Inspur Software Co and Suzhou Xingye Material in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou Xingye Material 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 Suzhou Xingye. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou Xingye Material has no effect on the direction of Inspur Software i.e., Inspur Software and Suzhou Xingye go up and down completely randomly.
Pair Corralation between Inspur Software and Suzhou Xingye
Assuming the 90 days trading horizon Inspur Software Co is expected to generate 0.98 times more return on investment than Suzhou Xingye. However, Inspur Software Co is 1.02 times less risky than Suzhou Xingye. It trades about 0.0 of its potential returns per unit of risk. Suzhou Xingye Material is currently generating about -0.01 per unit of risk. If you would invest 1,545 in Inspur Software Co on October 16, 2024 and sell it today you would lose (215.00) from holding Inspur Software Co or give up 13.92% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Inspur Software Co vs. Suzhou Xingye Material
Performance |
| Timeline |
| Inspur Software |
| Suzhou Xingye Material |
Inspur Software and Suzhou Xingye Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inspur Software and Suzhou Xingye
The main advantage of trading using opposite Inspur Software and Suzhou Xingye positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inspur Software position performs unexpectedly, Suzhou Xingye 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 Suzhou Xingye will offset losses from the drop in Suzhou Xingye's long position.| Inspur Software vs. Ingenic Semiconductor | Inspur Software vs. Thinkon Semiconductor Jinzhou | Inspur Software vs. Jiugui Liquor Co | Inspur Software vs. Jinhui Liquor Co |
| Suzhou Xingye vs. Zhongshan Public Utilities | Suzhou Xingye vs. China Satellite Communications | Suzhou Xingye vs. Hangzhou Arcvideo Technology | Suzhou Xingye vs. Tianjin Capital Environmental |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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