Correlation Between Postal Savings and Thinkon Semiconductor
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By analyzing existing cross correlation between Postal Savings Bank and Thinkon Semiconductor Jinzhou, you can compare the effects of market volatilities on Postal Savings and Thinkon Semiconductor 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 Thinkon Semiconductor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Thinkon Semiconductor.
Diversification Opportunities for Postal Savings and Thinkon Semiconductor
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Postal and Thinkon is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Thinkon Semiconductor Jinzhou in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thinkon Semiconductor 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 Thinkon Semiconductor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thinkon Semiconductor has no effect on the direction of Postal Savings i.e., Postal Savings and Thinkon Semiconductor go up and down completely randomly.
Pair Corralation between Postal Savings and Thinkon Semiconductor
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.58 times more return on investment than Thinkon Semiconductor. However, Postal Savings Bank is 1.71 times less risky than Thinkon Semiconductor. It trades about -0.11 of its potential returns per unit of risk. Thinkon Semiconductor Jinzhou is currently generating about -0.14 per unit of risk. If you would invest 550.00 in Postal Savings Bank on October 17, 2024 and sell it today you would lose (23.00) from holding Postal Savings Bank or give up 4.18% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Thinkon Semiconductor Jinzhou
Performance |
| Timeline |
| Postal Savings Bank |
| Thinkon Semiconductor |
Postal Savings and Thinkon Semiconductor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Thinkon Semiconductor
The main advantage of trading using opposite Postal Savings and Thinkon Semiconductor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Thinkon Semiconductor 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 Thinkon Semiconductor will offset losses from the drop in Thinkon Semiconductor's long position.| Postal Savings vs. Citic Guoan Wine | Postal Savings vs. Tinavi Medical Technologies | Postal Savings vs. Dymatic Chemicals | Postal Savings vs. Shenzhen Noposion Agrochemicals |
| Thinkon Semiconductor vs. Shenzhen Noposion Agrochemicals | Thinkon Semiconductor vs. Miracll Chemicals Co | Thinkon Semiconductor vs. Shaanxi Meineng Clean | Thinkon Semiconductor vs. Dymatic Chemicals |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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