Correlation Between Postal Savings and Chinese Universe
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By analyzing existing cross correlation between Postal Savings Bank and Chinese Universe Publishing, you can compare the effects of market volatilities on Postal Savings and Chinese Universe 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 Chinese Universe. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Chinese Universe.
Diversification Opportunities for Postal Savings and Chinese Universe
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Postal and Chinese is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Chinese Universe Publishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chinese Universe Pub 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 Chinese Universe. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chinese Universe Pub has no effect on the direction of Postal Savings i.e., Postal Savings and Chinese Universe go up and down completely randomly.
Pair Corralation between Postal Savings and Chinese Universe
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 1.0 times more return on investment than Chinese Universe. However, Postal Savings is 1.0 times more volatile than Chinese Universe Publishing. It trades about -0.15 of its potential returns per unit of risk. Chinese Universe Publishing is currently generating about -0.21 per unit of risk. If you would invest 570.00 in Postal Savings Bank on October 30, 2024 and sell it today you would lose (29.00) from holding Postal Savings Bank or give up 5.09% 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. Chinese Universe Publishing
Performance |
| Timeline |
| Postal Savings Bank |
| Chinese Universe Pub |
Postal Savings and Chinese Universe Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Chinese Universe
The main advantage of trading using opposite Postal Savings and Chinese Universe positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Chinese Universe 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 Chinese Universe will offset losses from the drop in Chinese Universe's long position.| Postal Savings vs. Hainan Haiqi Transportation | Postal Savings vs. Heilongjiang Transport Development | Postal Savings vs. Hangzhou Pinming Software | Postal Savings vs. Longjian Road Bridge |
| Chinese Universe vs. Tongxing Environmental Protection | Chinese Universe vs. Shandong Longquan Pipeline | Chinese Universe vs. Liaoning Chengda Biotechnology | Chinese Universe vs. Wuhan Hvsen Biotechnology |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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