Correlation Between China Mobile and Shenyang Blue
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By analyzing existing cross correlation between China Mobile Limited and Shenyang Blue Silver, you can compare the effects of market volatilities on China Mobile and Shenyang Blue 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 China Mobile with a short position of Shenyang Blue. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Mobile and Shenyang Blue.
Diversification Opportunities for China Mobile and Shenyang Blue
-0.75 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between China and Shenyang is -0.75. Overlapping area represents the amount of risk that can be diversified away by holding China Mobile Limited and Shenyang Blue Silver in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenyang Blue Silver and China Mobile 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 China Mobile Limited are associated (or correlated) with Shenyang Blue. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenyang Blue Silver has no effect on the direction of China Mobile i.e., China Mobile and Shenyang Blue go up and down completely randomly.
Pair Corralation between China Mobile and Shenyang Blue
Assuming the 90 days trading horizon China Mobile Limited is expected to generate 0.45 times more return on investment than Shenyang Blue. However, China Mobile Limited is 2.24 times less risky than Shenyang Blue. It trades about -0.18 of its potential returns per unit of risk. Shenyang Blue Silver is currently generating about -0.17 per unit of risk. If you would invest 11,385 in China Mobile Limited on October 22, 2024 and sell it today you would lose (475.00) from holding China Mobile Limited or give up 4.17% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Mobile Limited vs. Shenyang Blue Silver
Performance |
| Timeline |
| China Mobile Limited |
| Shenyang Blue Silver |
China Mobile and Shenyang Blue Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Mobile and Shenyang Blue
The main advantage of trading using opposite China Mobile and Shenyang Blue positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Mobile position performs unexpectedly, Shenyang Blue 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 Shenyang Blue will offset losses from the drop in Shenyang Blue's long position.| China Mobile vs. Dymatic Chemicals | China Mobile vs. Hubei Xingfa Chemicals | China Mobile vs. Shenzhen Noposion Agrochemicals | China Mobile vs. Ningxia Younglight Chemicals |
| Shenyang Blue vs. Road Environment Technology | Shenyang Blue vs. Hubeiyichang Transportation Group | Shenyang Blue vs. Silkroad Visual Technology | Shenyang Blue vs. Telling Telecommunication Holding |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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