Correlation Between Postal Savings and Biwin Storage
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By analyzing existing cross correlation between Postal Savings Bank and Biwin Storage Technology, you can compare the effects of market volatilities on Postal Savings and Biwin Storage 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 Biwin Storage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Biwin Storage.
Diversification Opportunities for Postal Savings and Biwin Storage
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Postal and Biwin is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Biwin Storage Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Biwin Storage Technology 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 Biwin Storage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Biwin Storage Technology has no effect on the direction of Postal Savings i.e., Postal Savings and Biwin Storage go up and down completely randomly.
Pair Corralation between Postal Savings and Biwin Storage
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.31 times more return on investment than Biwin Storage. However, Postal Savings Bank is 3.25 times less risky than Biwin Storage. It trades about -0.13 of its potential returns per unit of risk. Biwin Storage Technology is currently generating about -0.13 per unit of risk. If you would invest 542.00 in Postal Savings Bank on August 28, 2024 and sell it today you would lose (18.00) from holding Postal Savings Bank or give up 3.32% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Biwin Storage Technology
Performance |
| Timeline |
| Postal Savings Bank |
| Biwin Storage Technology |
Postal Savings and Biwin Storage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Biwin Storage
The main advantage of trading using opposite Postal Savings and Biwin Storage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Biwin Storage 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 Biwin Storage will offset losses from the drop in Biwin Storage's long position.| Postal Savings vs. China Life Insurance | Postal Savings vs. Piotech Inc A | Postal Savings vs. Dongxing Sec Co | Postal Savings vs. Shanghai OPM Biosciences |
| Biwin Storage vs. Lutian Machinery Co | Biwin Storage vs. China Longyuan Power | Biwin Storage vs. Changshu Tongrun Auto | Biwin Storage vs. PetroChina Co Ltd |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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