Correlation Between Postal Savings and Sunwoda Electronic
Specify exactly 2 symbols:
By analyzing existing cross correlation between Postal Savings Bank and Sunwoda Electronic, you can compare the effects of market volatilities on Postal Savings and Sunwoda Electronic 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 Sunwoda Electronic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Sunwoda Electronic.
Diversification Opportunities for Postal Savings and Sunwoda Electronic
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Postal and Sunwoda is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Sunwoda Electronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sunwoda Electronic 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 Sunwoda Electronic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sunwoda Electronic has no effect on the direction of Postal Savings i.e., Postal Savings and Sunwoda Electronic go up and down completely randomly.
Pair Corralation between Postal Savings and Sunwoda Electronic
Assuming the 90 days trading horizon Postal Savings is expected to generate 2.89 times less return on investment than Sunwoda Electronic. But when comparing it to its historical volatility, Postal Savings Bank is 2.2 times less risky than Sunwoda Electronic. It trades about 0.04 of its potential returns per unit of risk. Sunwoda Electronic is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 1,769 in Sunwoda Electronic on October 18, 2024 and sell it today you would earn a total of 333.00 from holding Sunwoda Electronic or generate 18.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Sunwoda Electronic
Performance |
| Timeline |
| Postal Savings Bank |
| Sunwoda Electronic |
Postal Savings and Sunwoda Electronic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Sunwoda Electronic
The main advantage of trading using opposite Postal Savings and Sunwoda Electronic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Sunwoda Electronic 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 Sunwoda Electronic will offset losses from the drop in Sunwoda Electronic's long position.| Postal Savings vs. HanS Laser Tech | Postal Savings vs. Olympic Circuit Technology | Postal Savings vs. Guangzhou KingTeller Technology | Postal Savings vs. Dhc Software Co |
| Sunwoda Electronic vs. Ping An Insurance | Sunwoda Electronic vs. Easyhome New Retail | Sunwoda Electronic vs. Postal Savings Bank | Sunwoda Electronic vs. Unisplendour Corp |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Commodity Directory Find actively traded commodities issued by global exchanges |