Correlation Between Postal Savings and Luyin Investment
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By analyzing existing cross correlation between Postal Savings Bank and Luyin Investment Group, you can compare the effects of market volatilities on Postal Savings and Luyin Investment 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 Luyin Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Luyin Investment.
Diversification Opportunities for Postal Savings and Luyin Investment
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Postal and Luyin is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Luyin Investment Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Luyin Investment 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 Luyin Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Luyin Investment has no effect on the direction of Postal Savings i.e., Postal Savings and Luyin Investment go up and down completely randomly.
Pair Corralation between Postal Savings and Luyin Investment
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.79 times more return on investment than Luyin Investment. However, Postal Savings Bank is 1.26 times less risky than Luyin Investment. It trades about 0.04 of its potential returns per unit of risk. Luyin Investment Group is currently generating about 0.0 per unit of risk. If you would invest 428.00 in Postal Savings Bank on September 1, 2024 and sell it today you would earn a total of 102.00 from holding Postal Savings Bank or generate 23.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Luyin Investment Group
Performance |
| Timeline |
| Postal Savings Bank |
| Luyin Investment |
Postal Savings and Luyin Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Luyin Investment
The main advantage of trading using opposite Postal Savings and Luyin Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Luyin Investment 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 Luyin Investment will offset losses from the drop in Luyin Investment's long position.| Postal Savings vs. Cultural Investment Holdings | Postal Savings vs. Bus Online Co | Postal Savings vs. Holitech Technology Co | Postal Savings vs. Zotye Automobile Co |
| Luyin Investment vs. Zijin Mining Group | Luyin Investment vs. Wanhua Chemical Group | Luyin Investment vs. Baoshan Iron Steel | Luyin Investment vs. Shandong Gold Mining |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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