Correlation Between Postal Savings and CSG Holding
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By analyzing existing cross correlation between Postal Savings Bank and CSG Holding Co, you can compare the effects of market volatilities on Postal Savings and CSG Holding 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 Postal Savings with a short position of CSG Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and CSG Holding.
Diversification Opportunities for Postal Savings and CSG Holding
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Postal and CSG is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and CSG Holding Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSG Holding and Postal Savings 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 Postal Savings Bank are associated (or correlated) with CSG Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSG Holding has no effect on the direction of Postal Savings i.e., Postal Savings and CSG Holding go up and down completely randomly.
Pair Corralation between Postal Savings and CSG Holding
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 1.14 times more return on investment than CSG Holding. However, Postal Savings is 1.14 times more volatile than CSG Holding Co. It trades about 0.03 of its potential returns per unit of risk. CSG Holding Co is currently generating about -0.03 per unit of risk. If you would invest 429.00 in Postal Savings Bank on August 27, 2024 and sell it today you would earn a total of 91.00 from holding Postal Savings Bank or generate 21.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. CSG Holding Co
Performance |
| Timeline |
| Postal Savings Bank |
| CSG Holding |
Postal Savings and CSG Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and CSG Holding
The main advantage of trading using opposite Postal Savings and CSG Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, CSG Holding 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 CSG Holding will offset losses from the drop in CSG Holding's long position.| Postal Savings vs. China Life Insurance | Postal Savings vs. Piotech Inc A | Postal Savings vs. Dongxing Sec Co | Postal Savings vs. Shanghai OPM Biosciences |
| CSG Holding vs. Hubei Dinglong Chemical | CSG Holding vs. Shandong Ruifeng Chemical | CSG Holding vs. Nantong Jiangshan Agrochemical | CSG Holding vs. Yangmei Chemical 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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