Correlation Between Giantec Semiconductor and Anhui Huaheng
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By analyzing existing cross correlation between Giantec Semiconductor Corp and Anhui Huaheng Biotechnology, you can compare the effects of market volatilities on Giantec Semiconductor and Anhui Huaheng 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 Giantec Semiconductor with a short position of Anhui Huaheng. Check out your portfolio center. Please also check ongoing floating volatility patterns of Giantec Semiconductor and Anhui Huaheng.
Diversification Opportunities for Giantec Semiconductor and Anhui Huaheng
0.02 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Giantec and Anhui is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Giantec Semiconductor Corp and Anhui Huaheng Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Huaheng Biotec and Giantec Semiconductor 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 Giantec Semiconductor Corp are associated (or correlated) with Anhui Huaheng. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Huaheng Biotec has no effect on the direction of Giantec Semiconductor i.e., Giantec Semiconductor and Anhui Huaheng go up and down completely randomly.
Pair Corralation between Giantec Semiconductor and Anhui Huaheng
Assuming the 90 days trading horizon Giantec Semiconductor Corp is expected to generate 2.53 times more return on investment than Anhui Huaheng. However, Giantec Semiconductor is 2.53 times more volatile than Anhui Huaheng Biotechnology. It trades about 0.03 of its potential returns per unit of risk. Anhui Huaheng Biotechnology is currently generating about -0.72 per unit of risk. If you would invest 6,111 in Giantec Semiconductor Corp on October 16, 2024 and sell it today you would earn a total of 64.00 from holding Giantec Semiconductor Corp or generate 1.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Giantec Semiconductor Corp vs. Anhui Huaheng Biotechnology
Performance |
| Timeline |
| Giantec Semiconductor |
| Anhui Huaheng Biotec |
Giantec Semiconductor and Anhui Huaheng Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Giantec Semiconductor and Anhui Huaheng
The main advantage of trading using opposite Giantec Semiconductor and Anhui Huaheng positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Giantec Semiconductor position performs unexpectedly, Anhui Huaheng 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 Anhui Huaheng will offset losses from the drop in Anhui Huaheng's long position.| Giantec Semiconductor vs. Songz Automobile Air | Giantec Semiconductor vs. Unisplendour Corp | Giantec Semiconductor vs. Jiangxi Hengda Hi Tech | Giantec Semiconductor vs. Guangzhou Haige Communications |
| Anhui Huaheng vs. Beijing Mainstreets Investment | Anhui Huaheng vs. Fiberhome Telecommunication Technologies | Anhui Huaheng vs. Dr Peng Telecom | Anhui Huaheng vs. Zhongrun Resources 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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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