Correlation Between Cinda Securities and Glodon Software
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By analyzing existing cross correlation between Cinda Securities Co and Glodon Software Co, you can compare the effects of market volatilities on Cinda Securities and Glodon Software 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 Glodon Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cinda Securities and Glodon Software.
Diversification Opportunities for Cinda Securities and Glodon Software
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Cinda and Glodon is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Cinda Securities Co and Glodon Software Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Glodon Software 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 Glodon Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Glodon Software has no effect on the direction of Cinda Securities i.e., Cinda Securities and Glodon Software go up and down completely randomly.
Pair Corralation between Cinda Securities and Glodon Software
Assuming the 90 days trading horizon Cinda Securities Co is expected to generate 1.04 times more return on investment than Glodon Software. However, Cinda Securities is 1.04 times more volatile than Glodon Software Co. It trades about 0.03 of its potential returns per unit of risk. Glodon Software Co is currently generating about -0.08 per unit of risk. If you would invest 1,179 in Cinda Securities Co on October 11, 2024 and sell it today you would earn a total of 212.00 from holding Cinda Securities Co or generate 17.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.37% |
| Values | Daily Returns |
Cinda Securities Co vs. Glodon Software Co
Performance |
| Timeline |
| Cinda Securities |
| Glodon Software |
Cinda Securities and Glodon Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cinda Securities and Glodon Software
The main advantage of trading using opposite Cinda Securities and Glodon Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cinda Securities position performs unexpectedly, Glodon Software 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 Glodon Software will offset losses from the drop in Glodon Software's long position.| Cinda Securities vs. Aba Chemicals Corp | Cinda Securities vs. Shenzhen Noposion Agrochemicals | Cinda Securities vs. Allmed Medical Products | Cinda Securities vs. Zhongzhu Medical Holdings |
| Glodon Software vs. Anhui Deli Household | Glodon Software vs. Xiangyang Automobile Bearing | Glodon Software vs. Ningbo Fangzheng Automobile | Glodon Software vs. Chongqing Changan Automobile |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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