Correlation Between Postal Savings and Poly Real
Specify exactly 2 symbols:
By analyzing existing cross correlation between Postal Savings Bank and Poly Real Estate, you can compare the effects of market volatilities on Postal Savings and Poly Real 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 Poly Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Poly Real.
Diversification Opportunities for Postal Savings and Poly Real
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Postal and Poly is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Poly Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Poly Real Estate 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 Poly Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poly Real Estate has no effect on the direction of Postal Savings i.e., Postal Savings and Poly Real go up and down completely randomly.
Pair Corralation between Postal Savings and Poly Real
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 1.77 times more return on investment than Poly Real. However, Postal Savings is 1.77 times more volatile than Poly Real Estate. It trades about -0.09 of its potential returns per unit of risk. Poly Real Estate is currently generating about -0.61 per unit of risk. If you would invest 550.00 in Postal Savings Bank on October 15, 2024 and sell it today you would lose (17.00) from holding Postal Savings Bank or give up 3.09% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Poly Real Estate
Performance |
| Timeline |
| Postal Savings Bank |
| Poly Real Estate |
Postal Savings and Poly Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Poly Real
The main advantage of trading using opposite Postal Savings and Poly Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Poly Real 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 Poly Real will offset losses from the drop in Poly Real's long position.| Postal Savings vs. Hangzhou Guotai Environmental | Postal Savings vs. Anyang Iron Steel | Postal Savings vs. Eit Environmental Development | Postal Savings vs. Shandong Iron and |
| Poly Real vs. Postal Savings Bank | Poly Real vs. Chongqing Changan Automobile | Poly Real vs. Lecron Energy Saving | Poly Real vs. Hua Xia Bank |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |