Correlation Between Bingo Software and Soochow Suzhou
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By analyzing existing cross correlation between Bingo Software Co and Soochow Suzhou Industrial, you can compare the effects of market volatilities on Bingo Software and Soochow Suzhou 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 Bingo Software with a short position of Soochow Suzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bingo Software and Soochow Suzhou.
Diversification Opportunities for Bingo Software and Soochow Suzhou
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bingo and Soochow is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Bingo Software Co and Soochow Suzhou Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Soochow Suzhou Industrial and Bingo Software 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 Bingo Software Co are associated (or correlated) with Soochow Suzhou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Soochow Suzhou Industrial has no effect on the direction of Bingo Software i.e., Bingo Software and Soochow Suzhou go up and down completely randomly.
Pair Corralation between Bingo Software and Soochow Suzhou
Assuming the 90 days trading horizon Bingo Software is expected to generate 2.84 times less return on investment than Soochow Suzhou. In addition to that, Bingo Software is 4.76 times more volatile than Soochow Suzhou Industrial. It trades about 0.03 of its total potential returns per unit of risk. Soochow Suzhou Industrial is currently generating about 0.46 per unit of volatility. If you would invest 336.00 in Soochow Suzhou Industrial on October 28, 2024 and sell it today you would earn a total of 25.00 from holding Soochow Suzhou Industrial or generate 7.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bingo Software Co vs. Soochow Suzhou Industrial
Performance |
| Timeline |
| Bingo Software |
| Soochow Suzhou Industrial |
Bingo Software and Soochow Suzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bingo Software and Soochow Suzhou
The main advantage of trading using opposite Bingo Software and Soochow Suzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bingo Software position performs unexpectedly, Soochow Suzhou 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 Soochow Suzhou will offset losses from the drop in Soochow Suzhou's long position.| Bingo Software vs. China State Construction | Bingo Software vs. Poly Real Estate | Bingo Software vs. China Vanke Co | Bingo Software vs. China Merchants Shekou |
| Soochow Suzhou vs. Industrial and Commercial | Soochow Suzhou vs. Kweichow Moutai Co | Soochow Suzhou vs. Agricultural Bank of | Soochow Suzhou vs. China Mobile Limited |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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