Correlation Between Xingguang Agricultural and China Resources
Specify exactly 2 symbols:
By analyzing existing cross correlation between Xingguang Agricultural Mach and China Resources Boya, you can compare the effects of market volatilities on Xingguang Agricultural and China Resources 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 Xingguang Agricultural with a short position of China Resources. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xingguang Agricultural and China Resources.
Diversification Opportunities for Xingguang Agricultural and China Resources
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Xingguang and China is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Xingguang Agricultural Mach and China Resources Boya in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Resources Boya and Xingguang Agricultural 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 Xingguang Agricultural Mach are associated (or correlated) with China Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Resources Boya has no effect on the direction of Xingguang Agricultural i.e., Xingguang Agricultural and China Resources go up and down completely randomly.
Pair Corralation between Xingguang Agricultural and China Resources
If you would invest 0.00 in China Resources Boya on October 24, 2024 and sell it today you would earn a total of 0.00 from holding China Resources Boya or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Xingguang Agricultural Mach vs. China Resources Boya
Performance |
| Timeline |
| Xingguang Agricultural |
| China Resources Boya |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Xingguang Agricultural and China Resources Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xingguang Agricultural and China Resources
The main advantage of trading using opposite Xingguang Agricultural and China Resources positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xingguang Agricultural position performs unexpectedly, China Resources 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 China Resources will offset losses from the drop in China Resources' long position.| Xingguang Agricultural vs. Kweichow Moutai Co | Xingguang Agricultural vs. Contemporary Amperex Technology | Xingguang Agricultural vs. Beijing Roborock Technology | Xingguang Agricultural vs. BYD Co Ltd |
| China Resources vs. Shenzhen Centralcon Investment | China Resources vs. Luyin Investment Group | China Resources vs. Sportsoul Co Ltd | China Resources vs. Kunwu Jiuding Investment |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing |