Correlation Between Gem Year and Soochow Suzhou
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By analyzing existing cross correlation between Gem Year Industrial Co and Soochow Suzhou Industrial, you can compare the effects of market volatilities on Gem Year and Soochow Suzhou 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 Gem Year with a short position of Soochow Suzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gem Year and Soochow Suzhou.
Diversification Opportunities for Gem Year and Soochow Suzhou
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Gem and Soochow is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding Gem Year Industrial Co and Soochow Suzhou Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Soochow Suzhou Industrial and Gem Year 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 Gem Year Industrial Co are associated (or correlated) with Soochow Suzhou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Soochow Suzhou Industrial has no effect on the direction of Gem Year i.e., Gem Year and Soochow Suzhou go up and down completely randomly.
Pair Corralation between Gem Year and Soochow Suzhou
Assuming the 90 days trading horizon Gem Year Industrial Co is expected to under-perform the Soochow Suzhou. In addition to that, Gem Year is 3.29 times more volatile than Soochow Suzhou Industrial. It trades about -0.21 of its total potential returns per unit of risk. Soochow Suzhou Industrial is currently generating about 0.27 per unit of volatility. If you would invest 333.00 in Soochow Suzhou Industrial on October 14, 2024 and sell it today you would earn a total of 13.00 from holding Soochow Suzhou Industrial or generate 3.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gem Year Industrial Co vs. Soochow Suzhou Industrial
Performance |
| Timeline |
| Gem Year Industrial |
| Soochow Suzhou Industrial |
Gem Year and Soochow Suzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gem Year and Soochow Suzhou
The main advantage of trading using opposite Gem Year and Soochow Suzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gem Year position performs unexpectedly, Soochow Suzhou 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 Soochow Suzhou will offset losses from the drop in Soochow Suzhou's long position.| Gem Year vs. Guangzhou Haige Communications | Gem Year vs. Xiangyang Automobile Bearing | Gem Year vs. Guizhou Chanhen Chemical | Gem Year vs. Tongyu Communication |
| Soochow Suzhou vs. Air China Ltd | Soochow Suzhou vs. Mango Excellent Media | Soochow Suzhou vs. HUAQIN TECHNOLOGY LTD | Soochow Suzhou vs. Beijing Enlight Media |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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