Correlation Between Postal Savings and Suzhou SLAC
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By analyzing existing cross correlation between Postal Savings Bank and Suzhou SLAC Precision, you can compare the effects of market volatilities on Postal Savings and Suzhou SLAC 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 Suzhou SLAC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Suzhou SLAC.
Diversification Opportunities for Postal Savings and Suzhou SLAC
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Postal and Suzhou is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Suzhou SLAC Precision in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou SLAC Precision 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 Suzhou SLAC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou SLAC Precision has no effect on the direction of Postal Savings i.e., Postal Savings and Suzhou SLAC go up and down completely randomly.
Pair Corralation between Postal Savings and Suzhou SLAC
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.28 times more return on investment than Suzhou SLAC. However, Postal Savings Bank is 3.56 times less risky than Suzhou SLAC. It trades about -0.08 of its potential returns per unit of risk. Suzhou SLAC Precision is currently generating about -0.14 per unit of risk. If you would invest 542.00 in Postal Savings Bank on October 21, 2024 and sell it today you would lose (16.00) from holding Postal Savings Bank or give up 2.95% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Suzhou SLAC Precision
Performance |
| Timeline |
| Postal Savings Bank |
| Suzhou SLAC Precision |
Postal Savings and Suzhou SLAC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Suzhou SLAC
The main advantage of trading using opposite Postal Savings and Suzhou SLAC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Suzhou SLAC 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 Suzhou SLAC will offset losses from the drop in Suzhou SLAC's long position.| Postal Savings vs. Ningbo Homelink Eco iTech | Postal Savings vs. Easyhome New Retail | Postal Savings vs. Gansu Jiu Steel | Postal Savings vs. Zoy Home Furnishing |
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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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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