Correlation Between 360 Security and Hangzhou Minsheng
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By analyzing existing cross correlation between 360 Security Technology and Hangzhou Minsheng Healthcare, you can compare the effects of market volatilities on 360 Security and Hangzhou Minsheng 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 360 Security with a short position of Hangzhou Minsheng. Check out your portfolio center. Please also check ongoing floating volatility patterns of 360 Security and Hangzhou Minsheng.
Diversification Opportunities for 360 Security and Hangzhou Minsheng
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between 360 and Hangzhou is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding 360 Security Technology and Hangzhou Minsheng Healthcare in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hangzhou Minsheng and 360 Security 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 360 Security Technology are associated (or correlated) with Hangzhou Minsheng. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hangzhou Minsheng has no effect on the direction of 360 Security i.e., 360 Security and Hangzhou Minsheng go up and down completely randomly.
Pair Corralation between 360 Security and Hangzhou Minsheng
Assuming the 90 days trading horizon 360 Security Technology is expected to generate 1.07 times more return on investment than Hangzhou Minsheng. However, 360 Security is 1.07 times more volatile than Hangzhou Minsheng Healthcare. It trades about 0.04 of its potential returns per unit of risk. Hangzhou Minsheng Healthcare is currently generating about -0.07 per unit of risk. If you would invest 711.00 in 360 Security Technology on October 14, 2024 and sell it today you would earn a total of 256.00 from holding 360 Security Technology or generate 36.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 68.62% |
| Values | Daily Returns |
360 Security Technology vs. Hangzhou Minsheng Healthcare
Performance |
| Timeline |
| 360 Security Technology |
| Hangzhou Minsheng |
360 Security and Hangzhou Minsheng Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 360 Security and Hangzhou Minsheng
The main advantage of trading using opposite 360 Security and Hangzhou Minsheng positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 360 Security position performs unexpectedly, Hangzhou Minsheng 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 Hangzhou Minsheng will offset losses from the drop in Hangzhou Minsheng's long position.| 360 Security vs. China Life Insurance | 360 Security vs. Cinda Securities Co | 360 Security vs. Piotech Inc A | 360 Security vs. Dongxing Sec Co |
| Hangzhou Minsheng vs. Tieling Newcity Investment | Hangzhou Minsheng vs. Eyebright Medical Technology | Hangzhou Minsheng vs. Jointo Energy Investment | Hangzhou Minsheng vs. 360 Security Technology |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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