Correlation Between Dr Peng and Shanghai V
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By analyzing existing cross correlation between Dr Peng Telecom and Shanghai V Test Semiconductor, you can compare the effects of market volatilities on Dr Peng and Shanghai V 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 Dr Peng with a short position of Shanghai V. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dr Peng and Shanghai V.
Diversification Opportunities for Dr Peng and Shanghai V
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between 600804 and Shanghai is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding Dr Peng Telecom and Shanghai V Test Semiconductor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai V Test and Dr Peng 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 Dr Peng Telecom are associated (or correlated) with Shanghai V. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai V Test has no effect on the direction of Dr Peng i.e., Dr Peng and Shanghai V go up and down completely randomly.
Pair Corralation between Dr Peng and Shanghai V
Assuming the 90 days trading horizon Dr Peng Telecom is expected to under-perform the Shanghai V. But the stock apears to be less risky and, when comparing its historical volatility, Dr Peng Telecom is 1.18 times less risky than Shanghai V. The stock trades about -0.01 of its potential returns per unit of risk. The Shanghai V Test Semiconductor is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 9,614 in Shanghai V Test Semiconductor on October 18, 2024 and sell it today you would lose (3,318) from holding Shanghai V Test Semiconductor or give up 34.51% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dr Peng Telecom vs. Shanghai V Test Semiconductor
Performance |
| Timeline |
| Dr Peng Telecom |
| Shanghai V Test |
Dr Peng and Shanghai V Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dr Peng and Shanghai V
The main advantage of trading using opposite Dr Peng and Shanghai V positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dr Peng position performs unexpectedly, Shanghai V 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 V will offset losses from the drop in Shanghai V's long position.| Dr Peng vs. Weihai Honglin Electronic | Dr Peng vs. Shenzhen Clou Electronics | Dr Peng vs. Jiangxi Hengda Hi Tech | Dr Peng vs. Easyhome New Retail |
| Shanghai V vs. Gifore Agricultural Machinery | Shanghai V vs. Allwin Telecommunication Co | Shanghai V vs. Dr Peng Telecom | Shanghai V vs. Huasi Agricultural Development |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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