Correlation Between Postal Savings and Zhuhai Comleader
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By analyzing existing cross correlation between Postal Savings Bank and Zhuhai Comleader Information, you can compare the effects of market volatilities on Postal Savings and Zhuhai Comleader 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 Zhuhai Comleader. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Zhuhai Comleader.
Diversification Opportunities for Postal Savings and Zhuhai Comleader
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Postal and Zhuhai is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Zhuhai Comleader Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhuhai Comleader Inf 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 Zhuhai Comleader. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhuhai Comleader Inf has no effect on the direction of Postal Savings i.e., Postal Savings and Zhuhai Comleader go up and down completely randomly.
Pair Corralation between Postal Savings and Zhuhai Comleader
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.36 times more return on investment than Zhuhai Comleader. However, Postal Savings Bank is 2.77 times less risky than Zhuhai Comleader. It trades about 0.07 of its potential returns per unit of risk. Zhuhai Comleader Information is currently generating about 0.01 per unit of risk. If you would invest 433.00 in Postal Savings Bank on September 2, 2024 and sell it today you would earn a total of 97.00 from holding Postal Savings Bank or generate 22.4% 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. Zhuhai Comleader Information
Performance |
| Timeline |
| Postal Savings Bank |
| Zhuhai Comleader Inf |
Postal Savings and Zhuhai Comleader Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Zhuhai Comleader
The main advantage of trading using opposite Postal Savings and Zhuhai Comleader positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Zhuhai Comleader 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 Zhuhai Comleader will offset losses from the drop in Zhuhai Comleader's long position.| Postal Savings vs. Xiangyang Automobile Bearing | Postal Savings vs. Guangdong Shenglu Telecommunication | Postal Savings vs. SUNSEA Telecommunications Co | Postal Savings vs. Tongyu Communication |
| Zhuhai Comleader vs. Industrial and Commercial | Zhuhai Comleader vs. Kweichow Moutai Co | Zhuhai Comleader vs. Agricultural Bank of | Zhuhai Comleader vs. China Mobile Limited |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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