Correlation Between Postal Savings and Wonders Information
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By analyzing existing cross correlation between Postal Savings Bank and Wonders Information, you can compare the effects of market volatilities on Postal Savings and Wonders Information 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 Wonders Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Wonders Information.
Diversification Opportunities for Postal Savings and Wonders Information
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Postal and Wonders is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Wonders Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wonders Information 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 Wonders Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wonders Information has no effect on the direction of Postal Savings i.e., Postal Savings and Wonders Information go up and down completely randomly.
Pair Corralation between Postal Savings and Wonders Information
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.36 times more return on investment than Wonders Information. However, Postal Savings Bank is 2.8 times less risky than Wonders Information. It trades about 0.04 of its potential returns per unit of risk. Wonders Information is currently generating about 0.01 per unit of risk. If you would invest 479.00 in Postal Savings Bank on September 12, 2024 and sell it today you would earn a total of 80.00 from holding Postal Savings Bank or generate 16.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Wonders Information
Performance |
| Timeline |
| Postal Savings Bank |
| Wonders Information |
Postal Savings and Wonders Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Wonders Information
The main advantage of trading using opposite Postal Savings and Wonders Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Wonders Information 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 Wonders Information will offset losses from the drop in Wonders Information's long position.| Postal Savings vs. China Petroleum Chemical | Postal Savings vs. PetroChina Co Ltd | Postal Savings vs. China Mobile Limited | Postal Savings vs. Industrial and Commercial |
| Wonders Information vs. Gansu Jiu Steel | Wonders Information vs. Shandong Mining Machinery | Wonders Information vs. Aba Chemicals Corp | Wonders Information vs. BlueFocus Communication Group |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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