Correlation Between Southern PublishingMedia and Shenzhen Fastprint
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By analyzing existing cross correlation between Southern PublishingMedia Co and Shenzhen Fastprint Circuit, you can compare the effects of market volatilities on Southern PublishingMedia and Shenzhen Fastprint 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 Southern PublishingMedia with a short position of Shenzhen Fastprint. Check out your portfolio center. Please also check ongoing floating volatility patterns of Southern PublishingMedia and Shenzhen Fastprint.
Diversification Opportunities for Southern PublishingMedia and Shenzhen Fastprint
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Southern and Shenzhen is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Southern PublishingMedia Co and Shenzhen Fastprint Circuit in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Fastprint and Southern PublishingMedia 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 Southern PublishingMedia Co are associated (or correlated) with Shenzhen Fastprint. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Fastprint has no effect on the direction of Southern PublishingMedia i.e., Southern PublishingMedia and Shenzhen Fastprint go up and down completely randomly.
Pair Corralation between Southern PublishingMedia and Shenzhen Fastprint
Assuming the 90 days trading horizon Southern PublishingMedia is expected to generate 2.52 times less return on investment than Shenzhen Fastprint. But when comparing it to its historical volatility, Southern PublishingMedia Co is 1.34 times less risky than Shenzhen Fastprint. It trades about 0.08 of its potential returns per unit of risk. Shenzhen Fastprint Circuit is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 1,048 in Shenzhen Fastprint Circuit on September 5, 2024 and sell it today you would earn a total of 145.00 from holding Shenzhen Fastprint Circuit or generate 13.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.65% |
| Values | Daily Returns |
Southern PublishingMedia Co vs. Shenzhen Fastprint Circuit
Performance |
| Timeline |
| Southern PublishingMedia |
| Shenzhen Fastprint |
Southern PublishingMedia and Shenzhen Fastprint Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Southern PublishingMedia and Shenzhen Fastprint
The main advantage of trading using opposite Southern PublishingMedia and Shenzhen Fastprint positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Southern PublishingMedia position performs unexpectedly, Shenzhen Fastprint 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 Shenzhen Fastprint will offset losses from the drop in Shenzhen Fastprint's long position.| Southern PublishingMedia vs. Ming Yang Smart | Southern PublishingMedia vs. 159681 | Southern PublishingMedia vs. 159005 | Southern PublishingMedia vs. 516220 |
| Shenzhen Fastprint vs. Southern PublishingMedia Co | Shenzhen Fastprint vs. Zhongtong Guomai Communication | Shenzhen Fastprint vs. Shandong Polymer Biochemicals | Shenzhen Fastprint vs. Miracll Chemicals Co |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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