Correlation Between Bangyan Technology and ACM Research
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By analyzing existing cross correlation between Bangyan Technology Co and ACM Research Shanghai, you can compare the effects of market volatilities on Bangyan Technology and ACM Research 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 Bangyan Technology with a short position of ACM Research. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bangyan Technology and ACM Research.
Diversification Opportunities for Bangyan Technology and ACM Research
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bangyan and ACM is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bangyan Technology Co and ACM Research Shanghai in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACM Research Shanghai and Bangyan 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 Bangyan Technology Co are associated (or correlated) with ACM Research. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACM Research Shanghai has no effect on the direction of Bangyan Technology i.e., Bangyan Technology and ACM Research go up and down completely randomly.
Pair Corralation between Bangyan Technology and ACM Research
If you would invest 1,540 in Bangyan Technology Co on November 7, 2024 and sell it today you would earn a total of 242.00 from holding Bangyan Technology Co or generate 15.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.88% |
| Values | Daily Returns |
Bangyan Technology Co vs. ACM Research Shanghai
Performance |
| Timeline |
| Bangyan Technology |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Insignificant
| ACM Research Shanghai |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Bangyan Technology and ACM Research Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bangyan Technology and ACM Research
The main advantage of trading using opposite Bangyan Technology and ACM Research positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bangyan Technology position performs unexpectedly, ACM Research 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 ACM Research will offset losses from the drop in ACM Research's long position.The idea behind Bangyan Technology Co and ACM Research Shanghai pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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