Correlation Between Chahua Modern and Harvest Fund
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By analyzing existing cross correlation between Chahua Modern Housewares and Harvest Fund Management, you can compare the effects of market volatilities on Chahua Modern and Harvest Fund 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 Chahua Modern with a short position of Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chahua Modern and Harvest Fund.
Diversification Opportunities for Chahua Modern and Harvest Fund
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Chahua and Harvest is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Chahua Modern Housewares and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management and Chahua Modern 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 Chahua Modern Housewares are associated (or correlated) with Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Chahua Modern i.e., Chahua Modern and Harvest Fund go up and down completely randomly.
Pair Corralation between Chahua Modern and Harvest Fund
Assuming the 90 days trading horizon Chahua Modern is expected to generate 4.26 times less return on investment than Harvest Fund. In addition to that, Chahua Modern is 2.18 times more volatile than Harvest Fund Management. It trades about 0.07 of its total potential returns per unit of risk. Harvest Fund Management is currently generating about 0.65 per unit of volatility. If you would invest 260.00 in Harvest Fund Management on October 11, 2024 and sell it today you would earn a total of 72.00 from holding Harvest Fund Management or generate 27.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Chahua Modern Housewares vs. Harvest Fund Management
Performance |
| Timeline |
| Chahua Modern Housewares |
| Harvest Fund Management |
Chahua Modern and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chahua Modern and Harvest Fund
The main advantage of trading using opposite Chahua Modern and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chahua Modern position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund's long position.| Chahua Modern vs. Ye Chiu Metal | Chahua Modern vs. Northern United Publishing | Chahua Modern vs. Dalian Thermal Power | Chahua Modern vs. Southern PublishingMedia Co |
| Harvest Fund vs. Beijing Bewinner Communications | Harvest Fund vs. UE Furniture Co | Harvest Fund vs. China Mobile Limited | Harvest Fund vs. Wuhan Yangtze Communication |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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