Correlation Between Qilu Bank and China Securities
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By analyzing existing cross correlation between Qilu Bank Co and China Securities 800, you can compare the effects of market volatilities on Qilu Bank and China Securities 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 Qilu Bank with a short position of China Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qilu Bank and China Securities.
Diversification Opportunities for Qilu Bank and China Securities
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Qilu and China is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Qilu Bank Co and China Securities 800 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Securities 800 and Qilu Bank 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 Qilu Bank Co are associated (or correlated) with China Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Securities 800 has no effect on the direction of Qilu Bank i.e., Qilu Bank and China Securities go up and down completely randomly.
Pair Corralation between Qilu Bank and China Securities
Assuming the 90 days trading horizon Qilu Bank Co is expected to generate 1.75 times more return on investment than China Securities. However, Qilu Bank is 1.75 times more volatile than China Securities 800. It trades about 0.15 of its potential returns per unit of risk. China Securities 800 is currently generating about -0.12 per unit of risk. If you would invest 546.00 in Qilu Bank Co on November 1, 2024 and sell it today you would earn a total of 32.00 from holding Qilu Bank Co or generate 5.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qilu Bank Co vs. China Securities 800
Performance |
| Timeline |
Qilu Bank and China Securities Volatility Contrast
Predicted Return Density |
| Returns |
Qilu Bank Co
Pair trading matchups for Qilu Bank
China Securities 800
Pair trading matchups for China Securities
Pair Trading with Qilu Bank and China Securities
The main advantage of trading using opposite Qilu Bank and China Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qilu Bank position performs unexpectedly, China Securities 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 China Securities will offset losses from the drop in China Securities' long position.| Qilu Bank vs. Western Metal Materials | Qilu Bank vs. Shuhua Sports Co | Qilu Bank vs. Dazhong Transportation Group | Qilu Bank vs. Heilongjiang Transport Development |
| China Securities vs. Shenzhen Clou Electronics | China Securities vs. Guangxi Wuzhou Communications | China Securities vs. Aurora Optoelectronics Co | China Securities vs. Jiangyin Jianghua Microelectronics |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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