Correlation Between Zhongyin Babi and Saurer Intelligent
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By analyzing existing cross correlation between Zhongyin Babi Food and Saurer Intelligent Technology, you can compare the effects of market volatilities on Zhongyin Babi 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 Zhongyin Babi with a short position of Saurer Intelligent. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zhongyin Babi and Saurer Intelligent.
Diversification Opportunities for Zhongyin Babi and Saurer Intelligent
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Zhongyin and Saurer is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Zhongyin Babi Food and Saurer Intelligent Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Saurer Intelligent and Zhongyin Babi 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 Zhongyin Babi Food 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 Zhongyin Babi i.e., Zhongyin Babi and Saurer Intelligent go up and down completely randomly.
Pair Corralation between Zhongyin Babi and Saurer Intelligent
Assuming the 90 days trading horizon Zhongyin Babi is expected to generate 24.15 times less return on investment than Saurer Intelligent. But when comparing it to its historical volatility, Zhongyin Babi Food is 1.57 times less risky than Saurer Intelligent. It trades about 0.0 of its potential returns per unit of risk. Saurer Intelligent Technology is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 292.00 in Saurer Intelligent Technology on September 15, 2024 and sell it today you would earn a total of 93.00 from holding Saurer Intelligent Technology or generate 31.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Zhongyin Babi Food vs. Saurer Intelligent Technology
Performance |
| Timeline |
| Zhongyin Babi Food |
| Saurer Intelligent |
Zhongyin Babi and Saurer Intelligent Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zhongyin Babi and Saurer Intelligent
The main advantage of trading using opposite Zhongyin Babi and Saurer Intelligent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zhongyin Babi 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.| Zhongyin Babi vs. Nanjing Putian Telecommunications | Zhongyin Babi vs. Tianjin Realty Development | Zhongyin Babi vs. Kangyue Technology Co | Zhongyin Babi vs. Shenzhen Hifuture Electric |
| Saurer Intelligent vs. Zhongyin Babi Food | Saurer Intelligent vs. HaiXin Foods Co | Saurer Intelligent vs. Chongqing Changan Automobile | Saurer Intelligent vs. Sichuan Teway Food |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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