Correlation Between China Publishing and Sublime China
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By analyzing existing cross correlation between China Publishing Media and Sublime China Information, you can compare the effects of market volatilities on China Publishing and Sublime China 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 Publishing with a short position of Sublime China. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Publishing and Sublime China.
Diversification Opportunities for China Publishing and Sublime China
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between China and Sublime is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding China Publishing Media and Sublime China Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sublime China Information and China Publishing 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 Publishing Media are associated (or correlated) with Sublime China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sublime China Information has no effect on the direction of China Publishing i.e., China Publishing and Sublime China go up and down completely randomly.
Pair Corralation between China Publishing and Sublime China
Assuming the 90 days trading horizon China Publishing is expected to generate 1.21 times less return on investment than Sublime China. But when comparing it to its historical volatility, China Publishing Media is 1.25 times less risky than Sublime China. It trades about 0.04 of its potential returns per unit of risk. Sublime China Information is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 4,813 in Sublime China Information on October 16, 2024 and sell it today you would earn a total of 1,603 from holding Sublime China Information or generate 33.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Publishing Media vs. Sublime China Information
Performance |
| Timeline |
| China Publishing Media |
| Sublime China Information |
China Publishing and Sublime China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Publishing and Sublime China
The main advantage of trading using opposite China Publishing and Sublime China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Publishing position performs unexpectedly, Sublime China 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 Sublime China will offset losses from the drop in Sublime China's long position.| China Publishing vs. Wintao Communications Co | China Publishing vs. Guangxi Wuzhou Communications | China Publishing vs. Everjoy Health Group | China Publishing vs. Heren Health Co |
| Sublime China vs. Guangxi Wuzhou Communications | Sublime China vs. Hubeiyichang Transportation Group | Sublime China vs. Wuhan Yangtze Communication | Sublime China vs. Lander Sports Development |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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