Correlation Between Suzhou Novoprotein and AECC Aviation
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By analyzing existing cross correlation between Suzhou Novoprotein Scientific and AECC Aviation Power, you can compare the effects of market volatilities on Suzhou Novoprotein and AECC Aviation 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 Suzhou Novoprotein with a short position of AECC Aviation. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Novoprotein and AECC Aviation.
Diversification Opportunities for Suzhou Novoprotein and AECC Aviation
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Suzhou and AECC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Novoprotein Scientific and AECC Aviation Power in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AECC Aviation Power and Suzhou Novoprotein 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 Suzhou Novoprotein Scientific are associated (or correlated) with AECC Aviation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AECC Aviation Power has no effect on the direction of Suzhou Novoprotein i.e., Suzhou Novoprotein and AECC Aviation go up and down completely randomly.
Pair Corralation between Suzhou Novoprotein and AECC Aviation
If you would invest (100.00) in AECC Aviation Power on October 25, 2024 and sell it today you would earn a total of 100.00 from holding AECC Aviation Power or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Suzhou Novoprotein Scientific vs. AECC Aviation Power
Performance |
| Timeline |
| Suzhou Novoprotein |
| AECC Aviation Power |
Suzhou Novoprotein and AECC Aviation Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Novoprotein and AECC Aviation
The main advantage of trading using opposite Suzhou Novoprotein and AECC Aviation positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Novoprotein position performs unexpectedly, AECC Aviation 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 AECC Aviation will offset losses from the drop in AECC Aviation's long position.| Suzhou Novoprotein vs. CSSC Offshore Marine | Suzhou Novoprotein vs. Chison Medical Technologies | Suzhou Novoprotein vs. Double Medical Technology | Suzhou Novoprotein vs. Guilin Seamild Foods |
| AECC Aviation vs. Zhongzhu Medical Holdings | AECC Aviation vs. Allgens Medical Technology | AECC Aviation vs. Shanghai CEO Environmental | AECC Aviation vs. Touchstone International Medical |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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