Correlation Between Cinda Securities and China Satellite
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By analyzing existing cross correlation between Cinda Securities Co and China Satellite Communications, you can compare the effects of market volatilities on Cinda Securities and China Satellite 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 China Satellite. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cinda Securities and China Satellite.
Diversification Opportunities for Cinda Securities and China Satellite
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Cinda and China is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Cinda Securities Co and China Satellite Communications in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Satellite Comm 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 China Satellite. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Satellite Comm has no effect on the direction of Cinda Securities i.e., Cinda Securities and China Satellite go up and down completely randomly.
Pair Corralation between Cinda Securities and China Satellite
Assuming the 90 days trading horizon Cinda Securities Co is expected to generate 0.96 times more return on investment than China Satellite. However, Cinda Securities Co is 1.04 times less risky than China Satellite. It trades about -0.15 of its potential returns per unit of risk. China Satellite Communications is currently generating about -0.25 per unit of risk. If you would invest 1,536 in Cinda Securities Co on October 9, 2024 and sell it today you would lose (131.00) from holding Cinda Securities Co or give up 8.53% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cinda Securities Co vs. China Satellite Communications
Performance |
| Timeline |
| Cinda Securities |
| China Satellite Comm |
Cinda Securities and China Satellite Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cinda Securities and China Satellite
The main advantage of trading using opposite Cinda Securities and China Satellite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cinda Securities position performs unexpectedly, China Satellite 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 China Satellite will offset losses from the drop in China Satellite's long position.| Cinda Securities vs. Fiberhome Telecommunication Technologies | Cinda Securities vs. State Grid InformationCommunication | Cinda Securities vs. Jinhui Mining Co | Cinda Securities vs. Chengtun Mining Group |
| China Satellite vs. Jiangsu Jinling Sports | China Satellite vs. Guangdong Shenglu Telecommunication | China Satellite vs. Allwin Telecommunication Co | China Satellite vs. Beijing Bewinner Communications |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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