Correlation Between 360 Security and Hua Xia
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By analyzing existing cross correlation between 360 Security Technology and Hua Xia Bank, you can compare the effects of market volatilities on 360 Security and Hua Xia 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 Hua Xia. Check out your portfolio center. Please also check ongoing floating volatility patterns of 360 Security and Hua Xia.
Diversification Opportunities for 360 Security and Hua Xia
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between 360 and Hua is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding 360 Security Technology and Hua Xia Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hua Xia Bank 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 Hua Xia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hua Xia Bank has no effect on the direction of 360 Security i.e., 360 Security and Hua Xia go up and down completely randomly.
Pair Corralation between 360 Security and Hua Xia
Assuming the 90 days trading horizon 360 Security Technology is expected to generate 2.04 times more return on investment than Hua Xia. However, 360 Security is 2.04 times more volatile than Hua Xia Bank. It trades about 0.04 of its potential returns per unit of risk. Hua Xia Bank is currently generating about 0.05 per unit of risk. If you would invest 845.00 in 360 Security Technology on October 12, 2024 and sell it today you would earn a total of 149.00 from holding 360 Security Technology or generate 17.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
360 Security Technology vs. Hua Xia Bank
Performance |
| Timeline |
| 360 Security Technology |
| Hua Xia Bank |
360 Security and Hua Xia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 360 Security and Hua Xia
The main advantage of trading using opposite 360 Security and Hua Xia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 360 Security position performs unexpectedly, Hua Xia 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 Hua Xia will offset losses from the drop in Hua Xia'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 |
| Hua Xia vs. Bohai Leasing Co | Hua Xia vs. Easyhome New Retail | Hua Xia vs. Ningbo Construction Co | Hua Xia vs. Sinomach General Machinery |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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