Correlation Between Xiangpiaopiao Food and V V
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By analyzing existing cross correlation between Xiangpiaopiao Food Co and V V Food, you can compare the effects of market volatilities on Xiangpiaopiao Food and V V 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 Xiangpiaopiao Food with a short position of V V. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xiangpiaopiao Food and V V.
Diversification Opportunities for Xiangpiaopiao Food and V V
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Xiangpiaopiao and 600300 is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Xiangpiaopiao Food Co and V V Food in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on V V Food and Xiangpiaopiao Food 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 Xiangpiaopiao Food Co are associated (or correlated) with V V. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of V V Food has no effect on the direction of Xiangpiaopiao Food i.e., Xiangpiaopiao Food and V V go up and down completely randomly.
Pair Corralation between Xiangpiaopiao Food and V V
Assuming the 90 days trading horizon Xiangpiaopiao Food Co is expected to generate 1.41 times more return on investment than V V. However, Xiangpiaopiao Food is 1.41 times more volatile than V V Food. It trades about -0.07 of its potential returns per unit of risk. V V Food is currently generating about -0.1 per unit of risk. If you would invest 1,688 in Xiangpiaopiao Food Co on October 11, 2024 and sell it today you would lose (181.00) from holding Xiangpiaopiao Food Co or give up 10.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xiangpiaopiao Food Co vs. V V Food
Performance |
| Timeline |
| Xiangpiaopiao Food |
| V V Food |
Xiangpiaopiao Food and V V Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xiangpiaopiao Food and V V
The main advantage of trading using opposite Xiangpiaopiao Food and V V positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xiangpiaopiao Food position performs unexpectedly, V V 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 V V will offset losses from the drop in V V's long position.| Xiangpiaopiao Food vs. King Strong New Material | Xiangpiaopiao Food vs. Guangzhou Tinci Materials | Xiangpiaopiao Food vs. Fuda Alloy Materials | Xiangpiaopiao Food vs. Sharetronic Data Technology |
| V V vs. Fuda Alloy Materials | V V vs. Sportsoul Co Ltd | V V vs. Konfoong Materials International | V V vs. Shenzhen AV Display Co |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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