Correlation Between China Construction and Shanghai Suochen
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By analyzing existing cross correlation between China Construction Bank and Shanghai Suochen Information, you can compare the effects of market volatilities on China Construction and Shanghai Suochen 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 Shanghai Suochen. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Construction and Shanghai Suochen.
Diversification Opportunities for China Construction and Shanghai Suochen
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between China and Shanghai is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding China Construction Bank and Shanghai Suochen Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Suochen Inf 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 Shanghai Suochen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Suochen Inf has no effect on the direction of China Construction i.e., China Construction and Shanghai Suochen go up and down completely randomly.
Pair Corralation between China Construction and Shanghai Suochen
If you would invest 830.00 in China Construction Bank on October 14, 2024 and sell it today you would earn a total of 15.00 from holding China Construction Bank or generate 1.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 0.0% |
| Values | Daily Returns |
China Construction Bank vs. Shanghai Suochen Information
Performance |
| Timeline |
| China Construction Bank |
| Shanghai Suochen Inf |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
China Construction and Shanghai Suochen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Construction and Shanghai Suochen
The main advantage of trading using opposite China Construction and Shanghai Suochen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Construction position performs unexpectedly, Shanghai Suochen 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 Shanghai Suochen will offset losses from the drop in Shanghai Suochen's long position.| China Construction vs. Shandong Sinoglory Health | China Construction vs. FSPG Hi Tech Co | China Construction vs. De Rucci Healthy | China Construction vs. Shanghai Shibei Hi Tech |
| Shanghai Suochen vs. Tongyu Communication | Shanghai Suochen vs. Chengdu B ray Media | Shanghai Suochen vs. Sportsoul Co Ltd | Shanghai Suochen vs. GUOMAI Culture Media |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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