Correlation Between Sanxiang Advanced and Postal Savings
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sanxiang Advanced Materials and Postal Savings Bank, you can compare the effects of market volatilities on Sanxiang Advanced and Postal Savings 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 Sanxiang Advanced with a short position of Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sanxiang Advanced and Postal Savings.
Diversification Opportunities for Sanxiang Advanced and Postal Savings
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Sanxiang and Postal is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Sanxiang Advanced Materials and Postal Savings Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Postal Savings Bank and Sanxiang Advanced 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 Sanxiang Advanced Materials are associated (or correlated) with Postal Savings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Postal Savings Bank has no effect on the direction of Sanxiang Advanced i.e., Sanxiang Advanced and Postal Savings go up and down completely randomly.
Pair Corralation between Sanxiang Advanced and Postal Savings
Assuming the 90 days trading horizon Sanxiang Advanced Materials is expected to generate 2.08 times more return on investment than Postal Savings. However, Sanxiang Advanced is 2.08 times more volatile than Postal Savings Bank. It trades about 0.05 of its potential returns per unit of risk. Postal Savings Bank is currently generating about 0.07 per unit of risk. If you would invest 1,677 in Sanxiang Advanced Materials on November 4, 2024 and sell it today you would earn a total of 30.00 from holding Sanxiang Advanced Materials or generate 1.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sanxiang Advanced Materials vs. Postal Savings Bank
Performance |
| Timeline |
| Sanxiang Advanced |
| Postal Savings Bank |
Sanxiang Advanced and Postal Savings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sanxiang Advanced and Postal Savings
The main advantage of trading using opposite Sanxiang Advanced and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sanxiang Advanced position performs unexpectedly, Postal Savings 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 Postal Savings will offset losses from the drop in Postal Savings' long position.| Sanxiang Advanced vs. Hunan Mendale Hometextile | Sanxiang Advanced vs. Nanxing Furniture Machinery | Sanxiang Advanced vs. Easyhome New Retail | Sanxiang Advanced vs. Nanjing OLO Home |
| Postal Savings vs. Hangzhou Pinming Software | Postal Savings vs. Luyin Investment Group | Postal Savings vs. Nuode Investment Co | Postal Savings vs. China Asset Management |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Other Complementary Tools
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |