Correlation Between Postal Savings and Suzhou Douson
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By analyzing existing cross correlation between Postal Savings Bank and Suzhou Douson Drilling, you can compare the effects of market volatilities on Postal Savings and Suzhou Douson 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 Douson. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Suzhou Douson.
Diversification Opportunities for Postal Savings and Suzhou Douson
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Postal and Suzhou is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Suzhou Douson Drilling in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou Douson Drilling 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 Douson. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou Douson Drilling has no effect on the direction of Postal Savings i.e., Postal Savings and Suzhou Douson go up and down completely randomly.
Pair Corralation between Postal Savings and Suzhou Douson
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.51 times more return on investment than Suzhou Douson. However, Postal Savings Bank is 1.95 times less risky than Suzhou Douson. It trades about 0.03 of its potential returns per unit of risk. Suzhou Douson Drilling is currently generating about 0.0 per unit of risk. If you would invest 460.00 in Postal Savings Bank on October 16, 2024 and sell it today you would earn a total of 64.00 from holding Postal Savings Bank or generate 13.91% 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. Suzhou Douson Drilling
Performance |
| Timeline |
| Postal Savings Bank |
| Suzhou Douson Drilling |
Postal Savings and Suzhou Douson Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Suzhou Douson
The main advantage of trading using opposite Postal Savings and Suzhou Douson positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Suzhou Douson 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 Douson will offset losses from the drop in Suzhou Douson'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 |
| Suzhou Douson vs. CareRay Digital Medical | Suzhou Douson vs. Postal Savings Bank | Suzhou Douson vs. Winner Medical Co | Suzhou Douson vs. Hunan Investment Group |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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