Correlation Between China Mobile and Qilu Bank
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By analyzing existing cross correlation between China Mobile Limited and Qilu Bank Co, you can compare the effects of market volatilities on China Mobile and Qilu Bank 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 Qilu Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Mobile and Qilu Bank.
Diversification Opportunities for China Mobile and Qilu Bank
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between China and Qilu is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding China Mobile Limited and Qilu Bank Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qilu Bank 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 Qilu Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qilu Bank has no effect on the direction of China Mobile i.e., China Mobile and Qilu Bank go up and down completely randomly.
Pair Corralation between China Mobile and Qilu Bank
Assuming the 90 days trading horizon China Mobile Limited is expected to generate 1.01 times more return on investment than Qilu Bank. However, China Mobile is 1.01 times more volatile than Qilu Bank Co. It trades about 0.22 of its potential returns per unit of risk. Qilu Bank Co is currently generating about -0.01 per unit of risk. If you would invest 10,085 in China Mobile Limited on September 13, 2024 and sell it today you would earn a total of 573.00 from holding China Mobile Limited or generate 5.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Mobile Limited vs. Qilu Bank Co
Performance |
| Timeline |
| China Mobile Limited |
| Qilu Bank |
China Mobile and Qilu Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Mobile and Qilu Bank
The main advantage of trading using opposite China Mobile and Qilu Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Mobile position performs unexpectedly, Qilu Bank 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 Qilu Bank will offset losses from the drop in Qilu Bank's long position.| China Mobile vs. Industrial and Commercial | China Mobile vs. China Construction Bank | China Mobile vs. Agricultural Bank of | China Mobile vs. Bank of China |
| Qilu Bank vs. Industrial Bank Co | Qilu Bank vs. Postal Savings Bank | Qilu Bank vs. Hua Xia Bank | Qilu Bank vs. Ping An Insurance |
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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