Correlation Between Guangdong Marubi and 5I5j Holding
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By analyzing existing cross correlation between Guangdong Marubi Biotechnology and 5I5j Holding Group, you can compare the effects of market volatilities on Guangdong Marubi and 5I5j Holding 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 Guangdong Marubi with a short position of 5I5j Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangdong Marubi and 5I5j Holding.
Diversification Opportunities for Guangdong Marubi and 5I5j Holding
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Guangdong and 5I5j is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Marubi Biotechnology and 5I5j Holding Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 5I5j Holding Group and Guangdong Marubi 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 Guangdong Marubi Biotechnology are associated (or correlated) with 5I5j Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 5I5j Holding Group has no effect on the direction of Guangdong Marubi i.e., Guangdong Marubi and 5I5j Holding go up and down completely randomly.
Pair Corralation between Guangdong Marubi and 5I5j Holding
Assuming the 90 days trading horizon Guangdong Marubi Biotechnology is expected to generate 1.17 times more return on investment than 5I5j Holding. However, Guangdong Marubi is 1.17 times more volatile than 5I5j Holding Group. It trades about 0.28 of its potential returns per unit of risk. 5I5j Holding Group is currently generating about -0.08 per unit of risk. If you would invest 2,763 in Guangdong Marubi Biotechnology on September 27, 2024 and sell it today you would earn a total of 667.00 from holding Guangdong Marubi Biotechnology or generate 24.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangdong Marubi Biotechnology vs. 5I5j Holding Group
Performance |
| Timeline |
| Guangdong Marubi Bio |
| 5I5j Holding Group |
Guangdong Marubi and 5I5j Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangdong Marubi and 5I5j Holding
The main advantage of trading using opposite Guangdong Marubi and 5I5j Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangdong Marubi position performs unexpectedly, 5I5j Holding 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 5I5j Holding will offset losses from the drop in 5I5j Holding's long position.| Guangdong Marubi vs. Nanxing Furniture Machinery | Guangdong Marubi vs. Vohringer Home Technology | Guangdong Marubi vs. Der International Home | Guangdong Marubi vs. Zhangjiagang Freetrade Science |
| 5I5j Holding vs. Nanjing Putian Telecommunications | 5I5j Holding vs. Guangdong Marubi Biotechnology | 5I5j Holding vs. Iat Automobile Technology | 5I5j Holding vs. Songz Automobile Air |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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