Correlation Between China Construction and Shenzhen Dynanonic
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By analyzing existing cross correlation between China Construction Bank and Shenzhen Dynanonic Co, you can compare the effects of market volatilities on China Construction and Shenzhen Dynanonic 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 Shenzhen Dynanonic. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Construction and Shenzhen Dynanonic.
Diversification Opportunities for China Construction and Shenzhen Dynanonic
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between China and Shenzhen is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding China Construction Bank and Shenzhen Dynanonic Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Dynanonic 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 Shenzhen Dynanonic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Dynanonic has no effect on the direction of China Construction i.e., China Construction and Shenzhen Dynanonic go up and down completely randomly.
Pair Corralation between China Construction and Shenzhen Dynanonic
Assuming the 90 days trading horizon China Construction Bank is expected to generate 0.31 times more return on investment than Shenzhen Dynanonic. However, China Construction Bank is 3.23 times less risky than Shenzhen Dynanonic. It trades about 0.08 of its potential returns per unit of risk. Shenzhen Dynanonic Co is currently generating about -0.06 per unit of risk. If you would invest 529.00 in China Construction Bank on October 16, 2024 and sell it today you would earn a total of 300.00 from holding China Construction Bank or generate 56.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Construction Bank vs. Shenzhen Dynanonic Co
Performance |
| Timeline |
| China Construction Bank |
| Shenzhen Dynanonic |
China Construction and Shenzhen Dynanonic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Construction and Shenzhen Dynanonic
The main advantage of trading using opposite China Construction and Shenzhen Dynanonic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Construction position performs unexpectedly, Shenzhen Dynanonic 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 Dynanonic will offset losses from the drop in Shenzhen Dynanonic's long position.| China Construction vs. Jilin Chemical Fibre | China Construction vs. Liuzhou Chemical Industry | China Construction vs. Hainan Haiqi Transportation | China Construction vs. Longxing Chemical Stock |
| Shenzhen Dynanonic vs. Jinling Hotel Corp | Shenzhen Dynanonic vs. Innovative Medical Management | Shenzhen Dynanonic vs. Tinavi Medical Technologies | Shenzhen Dynanonic vs. Hubei Geoway Investment |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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