Correlation Between Shuhua Sports and AVCON Information
Specify exactly 2 symbols:
By analyzing existing cross correlation between Shuhua Sports Co and AVCON Information Tech, you can compare the effects of market volatilities on Shuhua Sports and AVCON Information 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 Shuhua Sports with a short position of AVCON Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shuhua Sports and AVCON Information.
Diversification Opportunities for Shuhua Sports and AVCON Information
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Shuhua and AVCON is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Shuhua Sports Co and AVCON Information Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AVCON Information Tech and Shuhua Sports 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 Shuhua Sports Co are associated (or correlated) with AVCON Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AVCON Information Tech has no effect on the direction of Shuhua Sports i.e., Shuhua Sports and AVCON Information go up and down completely randomly.
Pair Corralation between Shuhua Sports and AVCON Information
Assuming the 90 days trading horizon Shuhua Sports Co is expected to generate 0.82 times more return on investment than AVCON Information. However, Shuhua Sports Co is 1.21 times less risky than AVCON Information. It trades about 0.06 of its potential returns per unit of risk. AVCON Information Tech is currently generating about -0.02 per unit of risk. If you would invest 760.00 in Shuhua Sports Co on October 29, 2024 and sell it today you would earn a total of 64.00 from holding Shuhua Sports Co or generate 8.42% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Shuhua Sports Co vs. AVCON Information Tech
Performance |
Timeline |
Shuhua Sports |
AVCON Information Tech |
Shuhua Sports and AVCON Information Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Shuhua Sports and AVCON Information
The main advantage of trading using opposite Shuhua Sports and AVCON Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shuhua Sports position performs unexpectedly, AVCON Information 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 AVCON Information will offset losses from the drop in AVCON Information's long position.Shuhua Sports vs. Zhongfu Information | ||
Shuhua Sports vs. Tianshan Aluminum Group | ||
Shuhua Sports vs. Wonders Information | ||
Shuhua Sports vs. Shanghai Yanpu Metal |
AVCON Information vs. Bus Online Co | ||
AVCON Information vs. Holitech Technology Co | ||
AVCON Information vs. Gome Telecom Equipment | ||
AVCON Information vs. Cultural Investment Holdings |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Other Complementary Tools
Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |