Correlation Between Olympic Circuit and Harvest Fund
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By analyzing existing cross correlation between Olympic Circuit Technology and Harvest Fund Management, you can compare the effects of market volatilities on Olympic Circuit and Harvest Fund 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 Olympic Circuit with a short position of Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Olympic Circuit and Harvest Fund.
Diversification Opportunities for Olympic Circuit and Harvest Fund
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Olympic and Harvest is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Olympic Circuit Technology and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management and Olympic Circuit 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 Olympic Circuit Technology are associated (or correlated) with Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Olympic Circuit i.e., Olympic Circuit and Harvest Fund go up and down completely randomly.
Pair Corralation between Olympic Circuit and Harvest Fund
Assuming the 90 days trading horizon Olympic Circuit Technology is expected to generate 10.48 times more return on investment than Harvest Fund. However, Olympic Circuit is 10.48 times more volatile than Harvest Fund Management. It trades about 0.08 of its potential returns per unit of risk. Harvest Fund Management is currently generating about 0.07 per unit of risk. If you would invest 2,761 in Olympic Circuit Technology on August 30, 2024 and sell it today you would earn a total of 168.00 from holding Olympic Circuit Technology or generate 6.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Olympic Circuit Technology vs. Harvest Fund Management
Performance |
| Timeline |
| Olympic Circuit Tech |
| Harvest Fund Management |
Olympic Circuit and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Olympic Circuit and Harvest Fund
The main advantage of trading using opposite Olympic Circuit and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Olympic Circuit position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund's long position.| Olympic Circuit vs. Cultural Investment Holdings | Olympic Circuit vs. Gome Telecom Equipment | Olympic Circuit vs. Bus Online Co | Olympic Circuit vs. Holitech Technology Co |
| Harvest Fund vs. Industrial and Commercial | Harvest Fund vs. Kweichow Moutai Co | Harvest Fund vs. Agricultural Bank of | Harvest Fund vs. China Mobile Limited |
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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