Correlation Between Suzhou Weizhixiang and Harvest Fund
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By analyzing existing cross correlation between Suzhou Weizhixiang Food and Harvest Fund Management, you can compare the effects of market volatilities on Suzhou Weizhixiang and Harvest Fund 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 Weizhixiang with a short position of Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Weizhixiang and Harvest Fund.
Diversification Opportunities for Suzhou Weizhixiang and Harvest Fund
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Suzhou and Harvest is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Weizhixiang Food and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management and Suzhou Weizhixiang 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 Weizhixiang Food are associated (or correlated) with Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Suzhou Weizhixiang i.e., Suzhou Weizhixiang and Harvest Fund go up and down completely randomly.
Pair Corralation between Suzhou Weizhixiang and Harvest Fund
Assuming the 90 days trading horizon Suzhou Weizhixiang Food is expected to under-perform the Harvest Fund. In addition to that, Suzhou Weizhixiang is 2.07 times more volatile than Harvest Fund Management. It trades about -0.16 of its total potential returns per unit of risk. Harvest Fund Management is currently generating about 0.46 per unit of volatility. If you would invest 302.00 in Harvest Fund Management on November 3, 2024 and sell it today you would earn a total of 35.00 from holding Harvest Fund Management or generate 11.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Suzhou Weizhixiang Food vs. Harvest Fund Management
Performance |
| Timeline |
| Suzhou Weizhixiang Food |
| Harvest Fund Management |
Suzhou Weizhixiang and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Weizhixiang and Harvest Fund
The main advantage of trading using opposite Suzhou Weizhixiang and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Weizhixiang position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund's long position.| Suzhou Weizhixiang vs. China Longyuan Power | Suzhou Weizhixiang vs. PetroChina Co Ltd | Suzhou Weizhixiang vs. Guangxi Guiguan Electric | Suzhou Weizhixiang vs. Yantai North Andre |
| Harvest Fund vs. Industrial and Commercial | Harvest Fund vs. Kweichow Moutai Co | Harvest Fund vs. Agricultural Bank of | Harvest Fund vs. China Mobile Limited |
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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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