Correlation Between Duzhe Publishing and China Minsheng
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By analyzing existing cross correlation between Duzhe Publishing Media and China Minsheng Banking, you can compare the effects of market volatilities on Duzhe Publishing and China Minsheng 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 Duzhe Publishing with a short position of China Minsheng. Check out your portfolio center. Please also check ongoing floating volatility patterns of Duzhe Publishing and China Minsheng.
Diversification Opportunities for Duzhe Publishing and China Minsheng
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Duzhe and China is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Duzhe Publishing Media and China Minsheng Banking in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Minsheng Banking and Duzhe Publishing 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 Duzhe Publishing Media are associated (or correlated) with China Minsheng. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Minsheng Banking has no effect on the direction of Duzhe Publishing i.e., Duzhe Publishing and China Minsheng go up and down completely randomly.
Pair Corralation between Duzhe Publishing and China Minsheng
Assuming the 90 days trading horizon Duzhe Publishing Media is expected to generate 1.25 times more return on investment than China Minsheng. However, Duzhe Publishing is 1.25 times more volatile than China Minsheng Banking. It trades about 0.12 of its potential returns per unit of risk. China Minsheng Banking is currently generating about 0.11 per unit of risk. If you would invest 591.00 in Duzhe Publishing Media on September 1, 2024 and sell it today you would earn a total of 39.00 from holding Duzhe Publishing Media or generate 6.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.65% |
| Values | Daily Returns |
Duzhe Publishing Media vs. China Minsheng Banking
Performance |
| Timeline |
| Duzhe Publishing Media |
| China Minsheng Banking |
Duzhe Publishing and China Minsheng Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Duzhe Publishing and China Minsheng
The main advantage of trading using opposite Duzhe Publishing and China Minsheng positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Duzhe Publishing position performs unexpectedly, China Minsheng 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 China Minsheng will offset losses from the drop in China Minsheng's long position.| Duzhe Publishing vs. Cambricon Technologies Corp | Duzhe Publishing vs. Loongson Technology Corp | Duzhe Publishing vs. Shenzhen Fortune Trend | Duzhe Publishing vs. Chongqing Road Bridge |
| China Minsheng vs. V V Food | China Minsheng vs. Juewei Food Co | China Minsheng vs. 360 Security Technology | China Minsheng vs. Guangdong Xiongsu Technology |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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