Correlation Between Cinda Securities and Maxvision Technology
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By analyzing existing cross correlation between Cinda Securities Co and Maxvision Technology Corp, you can compare the effects of market volatilities on Cinda Securities and Maxvision Technology 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 Maxvision Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cinda Securities and Maxvision Technology.
Diversification Opportunities for Cinda Securities and Maxvision Technology
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cinda and Maxvision is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Cinda Securities Co and Maxvision Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maxvision Technology Corp 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 Maxvision Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maxvision Technology Corp has no effect on the direction of Cinda Securities i.e., Cinda Securities and Maxvision Technology go up and down completely randomly.
Pair Corralation between Cinda Securities and Maxvision Technology
Assuming the 90 days trading horizon Cinda Securities is expected to generate 1.35 times less return on investment than Maxvision Technology. But when comparing it to its historical volatility, Cinda Securities Co is 1.71 times less risky than Maxvision Technology. It trades about 0.49 of its potential returns per unit of risk. Maxvision Technology Corp is currently generating about 0.39 of returns per unit of risk over similar time horizon. If you would invest 2,343 in Maxvision Technology Corp on November 28, 2024 and sell it today you would earn a total of 823.00 from holding Maxvision Technology Corp or generate 35.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cinda Securities Co vs. Maxvision Technology Corp
Performance |
| Timeline |
| Cinda Securities |
| Maxvision Technology Corp |
Cinda Securities and Maxvision Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cinda Securities and Maxvision Technology
The main advantage of trading using opposite Cinda Securities and Maxvision Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cinda Securities position performs unexpectedly, Maxvision Technology 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 Maxvision Technology will offset losses from the drop in Maxvision Technology's long position.| Cinda Securities vs. Universal Scientific Industrial | Cinda Securities vs. Bosera CMSK Industrial | Cinda Securities vs. Pengxin International Mining | Cinda Securities vs. Suzhou Industrial Park |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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