Correlation Between Cinda Securities and Beijing Shunxin
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By analyzing existing cross correlation between Cinda Securities Co and Beijing Shunxin Agriculture, you can compare the effects of market volatilities on Cinda Securities and Beijing Shunxin 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 Cinda Securities with a short position of Beijing Shunxin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cinda Securities and Beijing Shunxin.
Diversification Opportunities for Cinda Securities and Beijing Shunxin
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Cinda and Beijing is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Cinda Securities Co and Beijing Shunxin Agriculture in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Shunxin Agri and Cinda Securities 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 Cinda Securities Co are associated (or correlated) with Beijing Shunxin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Shunxin Agri has no effect on the direction of Cinda Securities i.e., Cinda Securities and Beijing Shunxin go up and down completely randomly.
Pair Corralation between Cinda Securities and Beijing Shunxin
Assuming the 90 days trading horizon Cinda Securities Co is expected to under-perform the Beijing Shunxin. In addition to that, Cinda Securities is 1.02 times more volatile than Beijing Shunxin Agriculture. It trades about -0.02 of its total potential returns per unit of risk. Beijing Shunxin Agriculture is currently generating about -0.01 per unit of volatility. If you would invest 2,481 in Beijing Shunxin Agriculture on September 14, 2024 and sell it today you would lose (448.00) from holding Beijing Shunxin Agriculture or give up 18.06% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cinda Securities Co vs. Beijing Shunxin Agriculture
Performance |
| Timeline |
| Cinda Securities |
| Beijing Shunxin Agri |
Cinda Securities and Beijing Shunxin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cinda Securities and Beijing Shunxin
The main advantage of trading using opposite Cinda Securities and Beijing Shunxin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cinda Securities position performs unexpectedly, Beijing Shunxin 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 Beijing Shunxin will offset losses from the drop in Beijing Shunxin's long position.| Cinda Securities vs. Chison Medical Technologies | Cinda Securities vs. Eastern Air Logistics | Cinda Securities vs. Hangzhou Gisway Information | Cinda Securities vs. Air China Ltd |
| Beijing Shunxin vs. China Life Insurance | Beijing Shunxin vs. Cinda Securities Co | Beijing Shunxin vs. Piotech Inc A | Beijing Shunxin vs. Dongxing Sec Co |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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