Correlation Between Huatai Securities and Guangdong Marubi
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By analyzing existing cross correlation between Huatai Securities Co and Guangdong Marubi Biotechnology, you can compare the effects of market volatilities on Huatai Securities and Guangdong Marubi 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 Huatai Securities with a short position of Guangdong Marubi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Huatai Securities and Guangdong Marubi.
Diversification Opportunities for Huatai Securities and Guangdong Marubi
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Huatai and Guangdong is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Huatai Securities Co and Guangdong Marubi Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong Marubi Bio and Huatai Securities 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 Huatai Securities Co are associated (or correlated) with Guangdong Marubi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong Marubi Bio has no effect on the direction of Huatai Securities i.e., Huatai Securities and Guangdong Marubi go up and down completely randomly.
Pair Corralation between Huatai Securities and Guangdong Marubi
Assuming the 90 days trading horizon Huatai Securities Co is expected to generate 0.73 times more return on investment than Guangdong Marubi. However, Huatai Securities Co is 1.37 times less risky than Guangdong Marubi. It trades about 0.04 of its potential returns per unit of risk. Guangdong Marubi Biotechnology is currently generating about 0.01 per unit of risk. If you would invest 1,254 in Huatai Securities Co on October 9, 2024 and sell it today you would earn a total of 421.00 from holding Huatai Securities Co or generate 33.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.79% |
| Values | Daily Returns |
Huatai Securities Co vs. Guangdong Marubi Biotechnology
Performance |
| Timeline |
| Huatai Securities |
| Guangdong Marubi Bio |
Huatai Securities and Guangdong Marubi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Huatai Securities and Guangdong Marubi
The main advantage of trading using opposite Huatai Securities and Guangdong Marubi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Huatai Securities position performs unexpectedly, Guangdong Marubi 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 Guangdong Marubi will offset losses from the drop in Guangdong Marubi's long position.| Huatai Securities vs. Ping An Insurance | Huatai Securities vs. Easyhome New Retail | Huatai Securities vs. Zhejiang Construction Investment | Huatai Securities vs. DO Home Collection |
| Guangdong Marubi vs. Chinese Universe Publishing | Guangdong Marubi vs. Northern United Publishing | Guangdong Marubi vs. Heilongjiang Publishing Media | Guangdong Marubi vs. Hengli Industrial Development |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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