Correlation Between China Construction and Sungrow Power
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By analyzing existing cross correlation between China Construction Bank and Sungrow Power Supply, you can compare the effects of market volatilities on China Construction and Sungrow Power 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 China Construction with a short position of Sungrow Power. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Construction and Sungrow Power.
Diversification Opportunities for China Construction and Sungrow Power
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between China and Sungrow is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding China Construction Bank and Sungrow Power Supply in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sungrow Power Supply and China Construction 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 China Construction Bank are associated (or correlated) with Sungrow Power. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sungrow Power Supply has no effect on the direction of China Construction i.e., China Construction and Sungrow Power go up and down completely randomly.
Pair Corralation between China Construction and Sungrow Power
If you would invest 707.00 in China Construction Bank on September 15, 2024 and sell it today you would earn a total of 123.00 from holding China Construction Bank or generate 17.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
China Construction Bank vs. Sungrow Power Supply
Performance |
| Timeline |
| China Construction Bank |
| Sungrow Power Supply |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
China Construction and Sungrow Power Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Construction and Sungrow Power
The main advantage of trading using opposite China Construction and Sungrow Power positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Construction position performs unexpectedly, Sungrow Power 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 Sungrow Power will offset losses from the drop in Sungrow Power's long position.| China Construction vs. Industrial and Commercial | China Construction vs. Agricultural Bank of | China Construction vs. Bank of China | China Construction vs. PetroChina Co Ltd |
| Sungrow Power vs. Zoje Resources Investment | Sungrow Power vs. Beijing Mainstreets Investment | Sungrow Power vs. Yili Chuanning Biotechnology | Sungrow Power vs. Hunan Investment Group |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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