Correlation Between China Citic and Tianjin LVYIN
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By analyzing existing cross correlation between China Citic Bank and Tianjin LVYIN Landscape, you can compare the effects of market volatilities on China Citic and Tianjin LVYIN 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 Citic with a short position of Tianjin LVYIN. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Citic and Tianjin LVYIN.
Diversification Opportunities for China Citic and Tianjin LVYIN
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between China and Tianjin is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding China Citic Bank and Tianjin LVYIN Landscape in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tianjin LVYIN Landscape and China Citic 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 Citic Bank are associated (or correlated) with Tianjin LVYIN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tianjin LVYIN Landscape has no effect on the direction of China Citic i.e., China Citic and Tianjin LVYIN go up and down completely randomly.
Pair Corralation between China Citic and Tianjin LVYIN
Assuming the 90 days trading horizon China Citic Bank is expected to generate 0.72 times more return on investment than Tianjin LVYIN. However, China Citic Bank is 1.39 times less risky than Tianjin LVYIN. It trades about 0.05 of its potential returns per unit of risk. Tianjin LVYIN Landscape is currently generating about -0.01 per unit of risk. If you would invest 480.00 in China Citic Bank on October 14, 2024 and sell it today you would earn a total of 195.00 from holding China Citic Bank or generate 40.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Citic Bank vs. Tianjin LVYIN Landscape
Performance |
| Timeline |
| China Citic Bank |
| Tianjin LVYIN Landscape |
China Citic and Tianjin LVYIN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Citic and Tianjin LVYIN
The main advantage of trading using opposite China Citic and Tianjin LVYIN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Citic position performs unexpectedly, Tianjin LVYIN 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 Tianjin LVYIN will offset losses from the drop in Tianjin LVYIN's long position.| China Citic vs. Fuda Alloy Materials | China Citic vs. China Building Material | China Citic vs. Sanbo Hospital Management | China Citic vs. King Strong New Material |
| Tianjin LVYIN vs. CSSC Offshore Marine | Tianjin LVYIN vs. Guangxi Wuzhou Communications | Tianjin LVYIN vs. State Grid InformationCommunication | Tianjin LVYIN vs. Bomesc Offshore Engineering |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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