Correlation Between Goodwill E and China Vanke
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By analyzing existing cross correlation between Goodwill E Health and China Vanke Co, you can compare the effects of market volatilities on Goodwill E and China Vanke 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 Goodwill E with a short position of China Vanke. Check out your portfolio center. Please also check ongoing floating volatility patterns of Goodwill E and China Vanke.
Diversification Opportunities for Goodwill E and China Vanke
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Goodwill and China is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Goodwill E Health and China Vanke Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Vanke and Goodwill E 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 Goodwill E Health are associated (or correlated) with China Vanke. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Vanke has no effect on the direction of Goodwill E i.e., Goodwill E and China Vanke go up and down completely randomly.
Pair Corralation between Goodwill E and China Vanke
Assuming the 90 days trading horizon Goodwill E Health is expected to under-perform the China Vanke. In addition to that, Goodwill E is 1.87 times more volatile than China Vanke Co. It trades about -0.66 of its total potential returns per unit of risk. China Vanke Co is currently generating about -0.81 per unit of volatility. If you would invest 865.00 in China Vanke Co on October 12, 2024 and sell it today you would lose (170.00) from holding China Vanke Co or give up 19.65% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Goodwill E Health vs. China Vanke Co
Performance |
| Timeline |
| Goodwill E Health |
| China Vanke |
Goodwill E and China Vanke Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Goodwill E and China Vanke
The main advantage of trading using opposite Goodwill E and China Vanke positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Goodwill E position performs unexpectedly, China Vanke 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 China Vanke will offset losses from the drop in China Vanke's long position.| Goodwill E vs. Innovative Medical Management | Goodwill E vs. Cicc Fund Management | Goodwill E vs. Bank of Suzhou | Goodwill E vs. China Everbright Bank |
| China Vanke vs. Goodwill E Health | China Vanke vs. Shandong Sinoglory Health | China Vanke vs. Shanghai Rongtai Health | China Vanke vs. Sichuan Yahua Industrial |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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