Correlation Between China Construction and Xiangpiaopiao Food
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By analyzing existing cross correlation between China Construction Bank and Xiangpiaopiao Food Co, you can compare the effects of market volatilities on China Construction and Xiangpiaopiao Food 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 Xiangpiaopiao Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Construction and Xiangpiaopiao Food.
Diversification Opportunities for China Construction and Xiangpiaopiao Food
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between China and Xiangpiaopiao is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding China Construction Bank and Xiangpiaopiao Food Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiangpiaopiao Food 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 Xiangpiaopiao Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiangpiaopiao Food has no effect on the direction of China Construction i.e., China Construction and Xiangpiaopiao Food go up and down completely randomly.
Pair Corralation between China Construction and Xiangpiaopiao Food
Assuming the 90 days trading horizon China Construction Bank is expected to generate 0.39 times more return on investment than Xiangpiaopiao Food. However, China Construction Bank is 2.55 times less risky than Xiangpiaopiao Food. It trades about 0.09 of its potential returns per unit of risk. Xiangpiaopiao Food Co is currently generating about 0.03 per unit of risk. If you would invest 529.00 in China Construction Bank on September 30, 2024 and sell it today you would earn a total of 348.00 from holding China Construction Bank or generate 65.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Construction Bank vs. Xiangpiaopiao Food Co
Performance |
| Timeline |
| China Construction Bank |
| Xiangpiaopiao Food |
China Construction and Xiangpiaopiao Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Construction and Xiangpiaopiao Food
The main advantage of trading using opposite China Construction and Xiangpiaopiao Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Construction position performs unexpectedly, Xiangpiaopiao Food 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 Xiangpiaopiao Food will offset losses from the drop in Xiangpiaopiao Food's long position.| China Construction vs. Industrial and Commercial | China Construction vs. Kweichow Moutai Co | China Construction vs. Agricultural Bank of | China Construction vs. China Mobile Limited |
| Xiangpiaopiao Food vs. Ming Yang Smart | Xiangpiaopiao Food vs. 159681 | Xiangpiaopiao Food vs. 159005 | Xiangpiaopiao Food vs. Loctek Ergonomic Technology |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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