Correlation Between Eastroc Beverage and Suzhou Industrial
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By analyzing existing cross correlation between Eastroc Beverage Group and Suzhou Industrial Park, you can compare the effects of market volatilities on Eastroc Beverage and Suzhou Industrial 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 Eastroc Beverage with a short position of Suzhou Industrial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eastroc Beverage and Suzhou Industrial.
Diversification Opportunities for Eastroc Beverage and Suzhou Industrial
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Eastroc and Suzhou is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Eastroc Beverage Group and Suzhou Industrial Park in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou Industrial Park and Eastroc Beverage 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 Eastroc Beverage Group are associated (or correlated) with Suzhou Industrial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou Industrial Park has no effect on the direction of Eastroc Beverage i.e., Eastroc Beverage and Suzhou Industrial go up and down completely randomly.
Pair Corralation between Eastroc Beverage and Suzhou Industrial
Assuming the 90 days trading horizon Eastroc Beverage Group is expected to generate 0.54 times more return on investment than Suzhou Industrial. However, Eastroc Beverage Group is 1.86 times less risky than Suzhou Industrial. It trades about -0.01 of its potential returns per unit of risk. Suzhou Industrial Park is currently generating about -0.17 per unit of risk. If you would invest 24,386 in Eastroc Beverage Group on October 28, 2024 and sell it today you would lose (273.00) from holding Eastroc Beverage Group or give up 1.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eastroc Beverage Group vs. Suzhou Industrial Park
Performance |
| Timeline |
| Eastroc Beverage |
| Suzhou Industrial Park |
Eastroc Beverage and Suzhou Industrial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eastroc Beverage and Suzhou Industrial
The main advantage of trading using opposite Eastroc Beverage and Suzhou Industrial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eastroc Beverage position performs unexpectedly, Suzhou Industrial 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 Suzhou Industrial will offset losses from the drop in Suzhou Industrial's long position.| Eastroc Beverage vs. Agricultural Bank of | Eastroc Beverage vs. Industrial and Commercial | Eastroc Beverage vs. Bank of China | Eastroc Beverage vs. China Construction Bank |
| Suzhou Industrial vs. Anhui Tongguan Copper | Suzhou Industrial vs. Eastroc Beverage Group | Suzhou Industrial vs. Zotye Automobile Co | Suzhou Industrial vs. Sinomach Automobile Co |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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