Correlation Between Cinda Securities and Cultural Investment
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By analyzing existing cross correlation between Cinda Securities Co and Cultural Investment Holdings, you can compare the effects of market volatilities on Cinda Securities and Cultural Investment 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 Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cinda Securities and Cultural Investment.
Diversification Opportunities for Cinda Securities and Cultural Investment
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cinda and Cultural is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Cinda Securities Co and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural Investment 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 Cultural Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cultural Investment has no effect on the direction of Cinda Securities i.e., Cinda Securities and Cultural Investment go up and down completely randomly.
Pair Corralation between Cinda Securities and Cultural Investment
Assuming the 90 days trading horizon Cinda Securities Co is expected to under-perform the Cultural Investment. But the stock apears to be less risky and, when comparing its historical volatility, Cinda Securities Co is 1.02 times less risky than Cultural Investment. The stock trades about -0.16 of its potential returns per unit of risk. The Cultural Investment Holdings is currently generating about -0.1 of returns per unit of risk over similar time horizon. If you would invest 219.00 in Cultural Investment Holdings on October 23, 2024 and sell it today you would lose (12.00) from holding Cultural Investment Holdings or give up 5.48% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cinda Securities Co vs. Cultural Investment Holdings
Performance |
| Timeline |
| Cinda Securities |
| Cultural Investment |
Cinda Securities and Cultural Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cinda Securities and Cultural Investment
The main advantage of trading using opposite Cinda Securities and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cinda Securities position performs unexpectedly, Cultural Investment 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 Cultural Investment will offset losses from the drop in Cultural Investment's long position.| Cinda Securities vs. Changchun Engley Automobile | Cinda Securities vs. Shenyang Chemical Industry | Cinda Securities vs. Songz Automobile Air | Cinda Securities vs. Shenzhen Noposion Agrochemicals |
| Cultural Investment vs. Nexchip Semiconductor Corp | Cultural Investment vs. Shannon Semiconductor Technology | Cultural Investment vs. Xinjiang Baodi Mining | Cultural Investment vs. Shengda Mining 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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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