Correlation Between Postal Savings and Beijing Shunxin
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By analyzing existing cross correlation between Postal Savings Bank and Beijing Shunxin Agriculture, you can compare the effects of market volatilities on Postal Savings and Beijing Shunxin 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 Beijing Shunxin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Beijing Shunxin.
Diversification Opportunities for Postal Savings and Beijing Shunxin
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Postal and Beijing is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Beijing Shunxin Agriculture in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Shunxin Agri 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 Beijing Shunxin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Shunxin Agri has no effect on the direction of Postal Savings i.e., Postal Savings and Beijing Shunxin go up and down completely randomly.
Pair Corralation between Postal Savings and Beijing Shunxin
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.7 times more return on investment than Beijing Shunxin. However, Postal Savings Bank is 1.43 times less risky than Beijing Shunxin. It trades about -0.19 of its potential returns per unit of risk. Beijing Shunxin Agriculture is currently generating about -0.19 per unit of risk. If you would invest 559.00 in Postal Savings Bank on October 22, 2024 and sell it today you would lose (33.00) from holding Postal Savings Bank or give up 5.9% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Beijing Shunxin Agriculture
Performance |
| Timeline |
| Postal Savings Bank |
| Beijing Shunxin Agri |
Postal Savings and Beijing Shunxin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Beijing Shunxin
The main advantage of trading using opposite Postal Savings and Beijing Shunxin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Beijing Shunxin 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 Beijing Shunxin will offset losses from the drop in Beijing Shunxin's long position.| Postal Savings vs. CICC Fund Management | Postal Savings vs. Harvest Fund Management | Postal Savings vs. Luyin Investment Group | Postal Savings vs. Hubei Geoway Investment |
| Beijing Shunxin vs. Panda Financial Holding | Beijing Shunxin vs. Rising Nonferrous Metals | Beijing Shunxin vs. Ye Chiu Metal | Beijing Shunxin vs. China Minmetals Rare |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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