Correlation Between Tianjin Silvery and Poly Real
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By analyzing existing cross correlation between Tianjin Silvery Dragon and Poly Real Estate, you can compare the effects of market volatilities on Tianjin Silvery 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 Silvery with a short position of Poly Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tianjin Silvery and Poly Real.
Diversification Opportunities for Tianjin Silvery and Poly Real
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Tianjin and Poly is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Tianjin Silvery Dragon 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 Silvery 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 Silvery Dragon 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 Silvery i.e., Tianjin Silvery and Poly Real go up and down completely randomly.
Pair Corralation between Tianjin Silvery and Poly Real
Assuming the 90 days trading horizon Tianjin Silvery Dragon is expected to generate 1.1 times more return on investment than Poly Real. However, Tianjin Silvery is 1.1 times more volatile than Poly Real Estate. It trades about 0.03 of its potential returns per unit of risk. Poly Real Estate is currently generating about -0.04 per unit of risk. If you would invest 513.00 in Tianjin Silvery Dragon on October 30, 2024 and sell it today you would earn a total of 118.00 from holding Tianjin Silvery Dragon or generate 23.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tianjin Silvery Dragon vs. Poly Real Estate
Performance |
| Timeline |
| Tianjin Silvery Dragon |
| Poly Real Estate |
Tianjin Silvery and Poly Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tianjin Silvery and Poly Real
The main advantage of trading using opposite Tianjin Silvery and Poly Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tianjin Silvery 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 Silvery vs. Bohai Leasing Co | Tianjin Silvery vs. Jiamei Food Packaging | Tianjin Silvery vs. Anji Foodstuff Co | Tianjin Silvery vs. Xinjiang Tianrun Dairy |
| Poly Real vs. Guangzhou Restaurants Group | Poly Real vs. Easyhome New Retail | Poly Real vs. Shandong Sanyuan Biotechnology | Poly Real vs. Luolai Home Textile |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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