Correlation Between TianJin 712 and Poly Real
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By analyzing existing cross correlation between TianJin 712 Communication and Poly Real Estate, you can compare the effects of market volatilities on TianJin 712 and Poly Real 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 TianJin 712 with a short position of Poly Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of TianJin 712 and Poly Real.
Diversification Opportunities for TianJin 712 and Poly Real
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between TianJin and Poly is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding TianJin 712 Communication and Poly Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Poly Real Estate and TianJin 712 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 TianJin 712 Communication are associated (or correlated) with Poly Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poly Real Estate has no effect on the direction of TianJin 712 i.e., TianJin 712 and Poly Real go up and down completely randomly.
Pair Corralation between TianJin 712 and Poly Real
Assuming the 90 days trading horizon TianJin 712 Communication is expected to under-perform the Poly Real. In addition to that, TianJin 712 is 3.09 times more volatile than Poly Real Estate. It trades about -0.37 of its total potential returns per unit of risk. Poly Real Estate is currently generating about -0.32 per unit of volatility. If you would invest 950.00 in Poly Real Estate on October 17, 2024 and sell it today you would lose (73.00) from holding Poly Real Estate or give up 7.68% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
TianJin 712 Communication vs. Poly Real Estate
Performance |
| Timeline |
| TianJin 712 Communication |
| Poly Real Estate |
TianJin 712 and Poly Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TianJin 712 and Poly Real
The main advantage of trading using opposite TianJin 712 and Poly Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TianJin 712 position performs unexpectedly, Poly Real 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 Poly Real will offset losses from the drop in Poly Real's long position.| TianJin 712 vs. Sichuan Fulin Transportation | TianJin 712 vs. Tieling Newcity Investment | TianJin 712 vs. Vanfund Urban Investment | TianJin 712 vs. SSAW Hotels Resorts |
| Poly Real vs. Shenzhen Kexin Communication | Poly Real vs. Guangdong Shenglu Telecommunication | Poly Real vs. TianJin 712 Communication | Poly Real vs. Nanjing Putian Telecommunications |
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 CEOs Directory module to screen CEOs from public companies around the world.
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