Correlation Between Postal Savings and Bloomage Biotechnology
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By analyzing existing cross correlation between Postal Savings Bank and Bloomage Biotechnology Corp, you can compare the effects of market volatilities on Postal Savings and Bloomage Biotechnology 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 Bloomage Biotechnology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Bloomage Biotechnology.
Diversification Opportunities for Postal Savings and Bloomage Biotechnology
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Postal and Bloomage is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Bloomage Biotechnology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bloomage Biotechnology 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 Bloomage Biotechnology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bloomage Biotechnology has no effect on the direction of Postal Savings i.e., Postal Savings and Bloomage Biotechnology go up and down completely randomly.
Pair Corralation between Postal Savings and Bloomage Biotechnology
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.94 times more return on investment than Bloomage Biotechnology. However, Postal Savings Bank is 1.06 times less risky than Bloomage Biotechnology. It trades about -0.12 of its potential returns per unit of risk. Bloomage Biotechnology Corp is currently generating about -0.34 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 (25.00) from holding Postal Savings Bank or give up 4.55% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Bloomage Biotechnology Corp
Performance |
| Timeline |
| Postal Savings Bank |
| Bloomage Biotechnology |
Postal Savings and Bloomage Biotechnology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Bloomage Biotechnology
The main advantage of trading using opposite Postal Savings and Bloomage Biotechnology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Bloomage Biotechnology 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 Bloomage Biotechnology will offset losses from the drop in Bloomage Biotechnology'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 |
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 CEOs Directory module to screen CEOs from public companies around the world.
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