Correlation Between China Construction and Bank of Changsha
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By analyzing existing cross correlation between China Construction Bank and Bank of Changsha, you can compare the effects of market volatilities on China Construction and Bank of Changsha 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 Bank of Changsha. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Construction and Bank of Changsha.
Diversification Opportunities for China Construction and Bank of Changsha
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between China and Bank is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding China Construction Bank and Bank of Changsha in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank of Changsha 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 Bank of Changsha. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank of Changsha has no effect on the direction of China Construction i.e., China Construction and Bank of Changsha go up and down completely randomly.
Pair Corralation between China Construction and Bank of Changsha
If you would invest (100.00) in Bank of Changsha on October 25, 2024 and sell it today you would earn a total of 100.00 from holding Bank of Changsha or generate -100.0% 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. Bank of Changsha
Performance |
| Timeline |
| China Construction Bank |
| Bank of Changsha |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
China Construction and Bank of Changsha Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Construction and Bank of Changsha
The main advantage of trading using opposite China Construction and Bank of Changsha positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Construction position performs unexpectedly, Bank of Changsha 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 Bank of Changsha will offset losses from the drop in Bank of Changsha's long position.| China Construction vs. Fuda Alloy Materials | China Construction vs. Guangzhou Tinci Materials | China Construction vs. Juneyao Airlines | China Construction vs. Jinsanjiang Silicon Material |
| Bank of Changsha vs. Dongfeng Automobile Co | Bank of Changsha vs. HUAQIN TECHNOLOGY LTD | Bank of Changsha vs. Haima Automobile Group | Bank of Changsha vs. Queclink Wireless Solutions |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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