Correlation Between Hangzhou Pinming and Cinda Securities
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By analyzing existing cross correlation between Hangzhou Pinming Software and Cinda Securities Co, you can compare the effects of market volatilities on Hangzhou Pinming and Cinda Securities 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 Hangzhou Pinming with a short position of Cinda Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hangzhou Pinming and Cinda Securities.
Diversification Opportunities for Hangzhou Pinming and Cinda Securities
0.78 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Hangzhou and Cinda is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding Hangzhou Pinming Software and Cinda Securities Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cinda Securities and Hangzhou Pinming 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 Hangzhou Pinming Software are associated (or correlated) with Cinda Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cinda Securities has no effect on the direction of Hangzhou Pinming i.e., Hangzhou Pinming and Cinda Securities go up and down completely randomly.
Pair Corralation between Hangzhou Pinming and Cinda Securities
Assuming the 90 days trading horizon Hangzhou Pinming Software is expected to generate 1.08 times more return on investment than Cinda Securities. However, Hangzhou Pinming is 1.08 times more volatile than Cinda Securities Co. It trades about 0.04 of its potential returns per unit of risk. Cinda Securities Co is currently generating about 0.03 per unit of risk. If you would invest 2,076 in Hangzhou Pinming Software on September 2, 2024 and sell it today you would earn a total of 739.00 from holding Hangzhou Pinming Software or generate 35.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 93.51% |
| Values | Daily Returns |
Hangzhou Pinming Software vs. Cinda Securities Co
Performance |
| Timeline |
| Hangzhou Pinming Software |
| Cinda Securities |
Hangzhou Pinming and Cinda Securities Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hangzhou Pinming and Cinda Securities
The main advantage of trading using opposite Hangzhou Pinming and Cinda Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hangzhou Pinming position performs unexpectedly, Cinda Securities 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 Cinda Securities will offset losses from the drop in Cinda Securities' long position.| Hangzhou Pinming vs. Ming Yang Smart | Hangzhou Pinming vs. 159681 | Hangzhou Pinming vs. 159005 | Hangzhou Pinming vs. Loctek Ergonomic Technology |
| Cinda Securities vs. BeiGene | Cinda Securities vs. Kweichow Moutai Co | Cinda Securities vs. Beijing Roborock Technology | Cinda Securities vs. G bits Network Technology |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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