Correlation Between Postal Savings and GRINM Semiconductor
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By analyzing existing cross correlation between Postal Savings Bank and GRINM Semiconductor Materials, you can compare the effects of market volatilities on Postal Savings and GRINM 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 GRINM Semiconductor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and GRINM Semiconductor.
Diversification Opportunities for Postal Savings and GRINM Semiconductor
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Postal and GRINM is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and GRINM Semiconductor Materials in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GRINM 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 GRINM Semiconductor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GRINM Semiconductor has no effect on the direction of Postal Savings i.e., Postal Savings and GRINM Semiconductor go up and down completely randomly.
Pair Corralation between Postal Savings and GRINM Semiconductor
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.45 times more return on investment than GRINM Semiconductor. However, Postal Savings Bank is 2.22 times less risky than GRINM Semiconductor. It trades about 0.06 of its potential returns per unit of risk. GRINM Semiconductor Materials is currently generating about 0.02 per unit of risk. If you would invest 437.00 in Postal Savings Bank on September 3, 2024 and sell it today you would earn a total of 93.00 from holding Postal Savings Bank or generate 21.28% 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. GRINM Semiconductor Materials
Performance |
| Timeline |
| Postal Savings Bank |
| GRINM Semiconductor |
Postal Savings and GRINM Semiconductor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and GRINM Semiconductor
The main advantage of trading using opposite Postal Savings and GRINM Semiconductor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, GRINM 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 GRINM Semiconductor will offset losses from the drop in GRINM Semiconductor's long position.| Postal Savings vs. Chongqing Road Bridge | Postal Savings vs. Wuhan Xianglong Power | Postal Savings vs. Empyrean Technology Co | Postal Savings vs. Yuanjie Semiconductor Technology |
| GRINM Semiconductor vs. Agricultural Bank of | GRINM Semiconductor vs. China Construction Bank | GRINM Semiconductor vs. Postal Savings Bank | GRINM Semiconductor vs. Bank of Communications |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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