Correlation Between Loongson Technology and Guilin Seamild
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By analyzing existing cross correlation between Loongson Technology Corp and Guilin Seamild Foods, you can compare the effects of market volatilities on Loongson Technology and Guilin Seamild 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 Loongson Technology with a short position of Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loongson Technology and Guilin Seamild.
Diversification Opportunities for Loongson Technology and Guilin Seamild
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Loongson and Guilin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Loongson Technology Corp and Guilin Seamild Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guilin Seamild Foods and Loongson Technology 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 Loongson Technology Corp are associated (or correlated) with Guilin Seamild. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guilin Seamild Foods has no effect on the direction of Loongson Technology i.e., Loongson Technology and Guilin Seamild go up and down completely randomly.
Pair Corralation between Loongson Technology and Guilin Seamild
If you would invest 941.00 in Guilin Seamild Foods on November 3, 2024 and sell it today you would earn a total of 635.00 from holding Guilin Seamild Foods or generate 67.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Loongson Technology Corp vs. Guilin Seamild Foods
Performance |
| Timeline |
| Loongson Technology Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Guilin Seamild Foods |
Loongson Technology and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loongson Technology and Guilin Seamild
The main advantage of trading using opposite Loongson Technology and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loongson Technology position performs unexpectedly, Guilin Seamild 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 Guilin Seamild will offset losses from the drop in Guilin Seamild's long position.| Loongson Technology vs. New Hope Dairy | Loongson Technology vs. Jiahe Foods Industry | Loongson Technology vs. JCHX Mining Management | Loongson Technology vs. Youyou Foods Co |
| Guilin Seamild vs. Hubei Xingfa Chemicals | Guilin Seamild vs. Harbin Air Conditioning | Guilin Seamild vs. Henan Shuanghui Investment | Guilin Seamild vs. MayAir Technology 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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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