Correlation Between Shanghai Sanyou and V V
Specify exactly 2 symbols:
By analyzing existing cross correlation between Shanghai Sanyou Medical and V V Food, you can compare the effects of market volatilities on Shanghai Sanyou and V V 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 Shanghai Sanyou with a short position of V V. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shanghai Sanyou and V V.
Diversification Opportunities for Shanghai Sanyou and V V
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Shanghai and 600300 is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Sanyou Medical and V V Food in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on V V Food and Shanghai Sanyou 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 Shanghai Sanyou Medical are associated (or correlated) with V V. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of V V Food has no effect on the direction of Shanghai Sanyou i.e., Shanghai Sanyou and V V go up and down completely randomly.
Pair Corralation between Shanghai Sanyou and V V
Assuming the 90 days trading horizon Shanghai Sanyou Medical is expected to under-perform the V V. In addition to that, Shanghai Sanyou is 1.56 times more volatile than V V Food. It trades about -0.02 of its total potential returns per unit of risk. V V Food is currently generating about 0.0 per unit of volatility. If you would invest 335.00 in V V Food on October 29, 2024 and sell it today you would lose (36.00) from holding V V Food or give up 10.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shanghai Sanyou Medical vs. V V Food
Performance |
| Timeline |
| Shanghai Sanyou Medical |
| V V Food |
Shanghai Sanyou and V V Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shanghai Sanyou and V V
The main advantage of trading using opposite Shanghai Sanyou and V V positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shanghai Sanyou position performs unexpectedly, V V 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 V V will offset losses from the drop in V V's long position.| Shanghai Sanyou vs. Xiamen Goldenhome Co | Shanghai Sanyou vs. Jinyu Bio Technology Co | Shanghai Sanyou vs. Nanxing Furniture Machinery | Shanghai Sanyou vs. Hubei Forbon Technology |
| V V vs. Xizi Clean Energy | V V vs. Cultural Investment Holdings | V V vs. Anhui Deli Household | V V vs. Jointo Energy Investment |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing |