Correlation Between AUPU Home and Shenzhen SDG
Specify exactly 2 symbols:
By analyzing existing cross correlation between AUPU Home Style and Shenzhen SDG Information, you can compare the effects of market volatilities on AUPU Home and Shenzhen SDG 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 AUPU Home with a short position of Shenzhen SDG. Check out your portfolio center. Please also check ongoing floating volatility patterns of AUPU Home and Shenzhen SDG.
Diversification Opportunities for AUPU Home and Shenzhen SDG
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AUPU and Shenzhen is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding AUPU Home Style and Shenzhen SDG Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen SDG Information and AUPU Home 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 AUPU Home Style are associated (or correlated) with Shenzhen SDG. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen SDG Information has no effect on the direction of AUPU Home i.e., AUPU Home and Shenzhen SDG go up and down completely randomly.
Pair Corralation between AUPU Home and Shenzhen SDG
Assuming the 90 days trading horizon AUPU Home Style is expected to generate 0.65 times more return on investment than Shenzhen SDG. However, AUPU Home Style is 1.53 times less risky than Shenzhen SDG. It trades about 0.01 of its potential returns per unit of risk. Shenzhen SDG Information is currently generating about -0.01 per unit of risk. If you would invest 1,078 in AUPU Home Style on November 1, 2024 and sell it today you would lose (18.00) from holding AUPU Home Style or give up 1.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AUPU Home Style vs. Shenzhen SDG Information
Performance |
| Timeline |
| AUPU Home Style |
| Shenzhen SDG Information |
AUPU Home and Shenzhen SDG Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AUPU Home and Shenzhen SDG
The main advantage of trading using opposite AUPU Home and Shenzhen SDG positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AUPU Home position performs unexpectedly, Shenzhen SDG 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 Shenzhen SDG will offset losses from the drop in Shenzhen SDG's long position.| AUPU Home vs. Youyou Foods Co | AUPU Home vs. Anhui Transport Consulting | AUPU Home vs. Namchow Food Group | AUPU Home vs. Sichuan Fulin Transportation |
| Shenzhen SDG vs. Jiangsu Financial Leasing | Shenzhen SDG vs. AUPU Home Style | Shenzhen SDG vs. Fujian Oriental Silver | Shenzhen SDG vs. Oppein Home Group |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets |