Correlation Between Eastroc Beverage and China Publishing
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By analyzing existing cross correlation between Eastroc Beverage Group and China Publishing Media, you can compare the effects of market volatilities on Eastroc Beverage and China Publishing 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 China Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eastroc Beverage and China Publishing.
Diversification Opportunities for Eastroc Beverage and China Publishing
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Eastroc and China is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Eastroc Beverage Group and China Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Publishing Media 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 China Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Publishing Media has no effect on the direction of Eastroc Beverage i.e., Eastroc Beverage and China Publishing go up and down completely randomly.
Pair Corralation between Eastroc Beverage and China Publishing
Assuming the 90 days trading horizon Eastroc Beverage Group is expected to under-perform the China Publishing. In addition to that, Eastroc Beverage is 1.88 times more volatile than China Publishing Media. It trades about -0.05 of its total potential returns per unit of risk. China Publishing Media is currently generating about 0.1 per unit of volatility. If you would invest 678.00 in China Publishing Media on November 5, 2024 and sell it today you would earn a total of 18.00 from holding China Publishing Media or generate 2.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eastroc Beverage Group vs. China Publishing Media
Performance |
| Timeline |
| Eastroc Beverage |
| China Publishing Media |
Eastroc Beverage and China Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eastroc Beverage and China Publishing
The main advantage of trading using opposite Eastroc Beverage and China Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eastroc Beverage position performs unexpectedly, China Publishing 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 Publishing will offset losses from the drop in China Publishing's long position.| Eastroc Beverage vs. Nanjing Putian Telecommunications | Eastroc Beverage vs. Cloud Live Technology | Eastroc Beverage vs. Shenzhen Coship Electronics | Eastroc Beverage vs. Shenzhen Hifuture Electric |
| China Publishing vs. Jinling Hotel Corp | China Publishing vs. Hainan Mining Co | China Publishing vs. Shengda Mining Co | China Publishing vs. Guocheng Mining 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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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