Correlation Between Suzhou Douson and China Resources
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By analyzing existing cross correlation between Suzhou Douson Drilling and China Resources Boya, you can compare the effects of market volatilities on Suzhou Douson 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 Suzhou Douson with a short position of China Resources. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Douson and China Resources.
Diversification Opportunities for Suzhou Douson and China Resources
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Suzhou and China is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Douson Drilling 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 Suzhou Douson 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 Suzhou Douson Drilling 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 Suzhou Douson i.e., Suzhou Douson and China Resources go up and down completely randomly.
Pair Corralation between Suzhou Douson and China Resources
If you would invest 2,162 in Suzhou Douson Drilling on October 7, 2024 and sell it today you would earn a total of 183.00 from holding Suzhou Douson Drilling or generate 8.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Suzhou Douson Drilling vs. China Resources Boya
Performance |
| Timeline |
| Suzhou Douson Drilling |
| China Resources Boya |
Suzhou Douson and China Resources Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Douson and China Resources
The main advantage of trading using opposite Suzhou Douson and China Resources positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Douson 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.| Suzhou Douson vs. Cultural Investment Holdings | Suzhou Douson vs. Vanfund Urban Investment | Suzhou Douson vs. Hengkang Medical Group | Suzhou Douson vs. Zhongrun Resources Investment |
| China Resources vs. Konfoong Materials International | China Resources vs. Xinke Material | China Resources vs. Kangxin New Materials | China Resources vs. HaiXin Foods 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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