Correlation Between Guangdong Marubi and Saurer Intelligent
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By analyzing existing cross correlation between Guangdong Marubi Biotechnology and Saurer Intelligent Technology, you can compare the effects of market volatilities on Guangdong Marubi and Saurer Intelligent 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 Saurer Intelligent. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangdong Marubi and Saurer Intelligent.
Diversification Opportunities for Guangdong Marubi and Saurer Intelligent
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Guangdong and Saurer is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Marubi Biotechnology and Saurer Intelligent Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Saurer Intelligent 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 Saurer Intelligent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Saurer Intelligent has no effect on the direction of Guangdong Marubi i.e., Guangdong Marubi and Saurer Intelligent go up and down completely randomly.
Pair Corralation between Guangdong Marubi and Saurer Intelligent
Assuming the 90 days trading horizon Guangdong Marubi Biotechnology is expected to under-perform the Saurer Intelligent. But the stock apears to be less risky and, when comparing its historical volatility, Guangdong Marubi Biotechnology is 1.94 times less risky than Saurer Intelligent. The stock trades about -0.21 of its potential returns per unit of risk. The Saurer Intelligent Technology is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 194.00 in Saurer Intelligent Technology on August 29, 2024 and sell it today you would earn a total of 26.00 from holding Saurer Intelligent Technology or generate 13.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangdong Marubi Biotechnology vs. Saurer Intelligent Technology
Performance |
| Timeline |
| Guangdong Marubi Bio |
| Saurer Intelligent |
Guangdong Marubi and Saurer Intelligent Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangdong Marubi and Saurer Intelligent
The main advantage of trading using opposite Guangdong Marubi and Saurer Intelligent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangdong Marubi position performs unexpectedly, Saurer Intelligent 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 Saurer Intelligent will offset losses from the drop in Saurer Intelligent's long position.| Guangdong Marubi vs. Longjian Road Bridge | Guangdong Marubi vs. Dazhong Transportation Group | Guangdong Marubi vs. Heilongjiang Publishing Media | Guangdong Marubi vs. Guizhou BroadcastingTV Info |
| Saurer Intelligent vs. Agricultural Bank of | Saurer Intelligent vs. Industrial and Commercial | Saurer Intelligent vs. Bank of China | Saurer Intelligent vs. China Construction Bank |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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