Correlation Between Cinda Securities and Hengdian Entertainment
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By analyzing existing cross correlation between Cinda Securities Co and Hengdian Entertainment Co, you can compare the effects of market volatilities on Cinda Securities and Hengdian Entertainment 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 Hengdian Entertainment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cinda Securities and Hengdian Entertainment.
Diversification Opportunities for Cinda Securities and Hengdian Entertainment
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cinda and Hengdian is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cinda Securities Co and Hengdian Entertainment Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hengdian Entertainment 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 Hengdian Entertainment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hengdian Entertainment has no effect on the direction of Cinda Securities i.e., Cinda Securities and Hengdian Entertainment go up and down completely randomly.
Pair Corralation between Cinda Securities and Hengdian Entertainment
If you would invest 0.00 in Cinda Securities Co on October 24, 2024 and sell it today you would earn a total of 0.00 from holding Cinda Securities Co or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Cinda Securities Co vs. Hengdian Entertainment Co
Performance |
| Timeline |
| Cinda Securities |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Hengdian Entertainment |
Cinda Securities and Hengdian Entertainment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cinda Securities and Hengdian Entertainment
The main advantage of trading using opposite Cinda Securities and Hengdian Entertainment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cinda Securities position performs unexpectedly, Hengdian Entertainment 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 Hengdian Entertainment will offset losses from the drop in Hengdian Entertainment's long position.| Cinda Securities vs. Jiangsu Xinri E Vehicle | Cinda Securities vs. Shenzhen Zqgame | Cinda Securities vs. Guangzhou Automobile Group | Cinda Securities vs. Cansino Biologics |
| Hengdian Entertainment vs. Miracll Chemicals Co | Hengdian Entertainment vs. Postal Savings Bank | Hengdian Entertainment vs. Liaoning Dingjide Petrochemical | Hengdian Entertainment vs. Peoples Insurance of |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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