Correlation Between National Silicon and Autek China
Specify exactly 2 symbols:
By analyzing existing cross correlation between National Silicon Industry and Autek China, you can compare the effects of market volatilities on National Silicon and Autek China 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 National Silicon with a short position of Autek China. Check out your portfolio center. Please also check ongoing floating volatility patterns of National Silicon and Autek China.
Diversification Opportunities for National Silicon and Autek China
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between National and Autek is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding National Silicon Industry and Autek China in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Autek China and National Silicon 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 National Silicon Industry are associated (or correlated) with Autek China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Autek China has no effect on the direction of National Silicon i.e., National Silicon and Autek China go up and down completely randomly.
Pair Corralation between National Silicon and Autek China
Assuming the 90 days trading horizon National Silicon Industry is expected to generate 1.03 times more return on investment than Autek China. However, National Silicon is 1.03 times more volatile than Autek China. It trades about 0.02 of its potential returns per unit of risk. Autek China is currently generating about -0.02 per unit of risk. If you would invest 1,969 in National Silicon Industry on September 4, 2024 and sell it today you would earn a total of 196.00 from holding National Silicon Industry or generate 9.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
National Silicon Industry vs. Autek China
Performance |
| Timeline |
| National Silicon Industry |
| Autek China |
National Silicon and Autek China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with National Silicon and Autek China
The main advantage of trading using opposite National Silicon and Autek China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if National Silicon position performs unexpectedly, Autek China 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 Autek China will offset losses from the drop in Autek China's long position.| National Silicon vs. Cultural Investment Holdings | National Silicon vs. Gome Telecom Equipment | National Silicon vs. Bus Online Co | National Silicon vs. Holitech Technology Co |
| Autek China vs. Dalian Zeus Entertainment | Autek China vs. Beijing Bashi Media | Autek China vs. Dazhong Transportation Group | Autek China vs. Shanghai Broadband 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Other Complementary Tools
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities |