Correlation Between Suzhou Xingye and GRG Banking
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By analyzing existing cross correlation between Suzhou Xingye Material and GRG Banking Equipment, you can compare the effects of market volatilities on Suzhou Xingye and GRG Banking 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 Xingye with a short position of GRG Banking. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Xingye and GRG Banking.
Diversification Opportunities for Suzhou Xingye and GRG Banking
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between Suzhou and GRG is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Xingye Material and GRG Banking Equipment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GRG Banking Equipment and Suzhou Xingye 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 Xingye Material are associated (or correlated) with GRG Banking. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GRG Banking Equipment has no effect on the direction of Suzhou Xingye i.e., Suzhou Xingye and GRG Banking go up and down completely randomly.
Pair Corralation between Suzhou Xingye and GRG Banking
Assuming the 90 days trading horizon Suzhou Xingye Material is expected to generate 3.85 times more return on investment than GRG Banking. However, Suzhou Xingye is 3.85 times more volatile than GRG Banking Equipment. It trades about 0.52 of its potential returns per unit of risk. GRG Banking Equipment is currently generating about 0.08 per unit of risk. If you would invest 783.00 in Suzhou Xingye Material on November 4, 2024 and sell it today you would earn a total of 524.00 from holding Suzhou Xingye Material or generate 66.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Suzhou Xingye Material vs. GRG Banking Equipment
Performance |
| Timeline |
| Suzhou Xingye Material |
| GRG Banking Equipment |
Suzhou Xingye and GRG Banking Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Xingye and GRG Banking
The main advantage of trading using opposite Suzhou Xingye and GRG Banking positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Xingye position performs unexpectedly, GRG Banking 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 GRG Banking will offset losses from the drop in GRG Banking's long position.| Suzhou Xingye vs. Anhui Transport Consulting | Suzhou Xingye vs. Guangzhou Seagull Kitchen | Suzhou Xingye vs. Chahua Modern Housewares | Suzhou Xingye vs. Yindu Kitchen Equipment |
| GRG Banking vs. Postal Savings Bank | GRG Banking vs. Hubei Geoway Investment | GRG Banking vs. Shenzhen Centralcon Investment | GRG Banking vs. Shenwu Energy Saving |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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