Correlation Between Shenzhen Fortune and Shanghai Rongtai
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By analyzing existing cross correlation between Shenzhen Fortune Trend and Shanghai Rongtai Health, you can compare the effects of market volatilities on Shenzhen Fortune and Shanghai Rongtai 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 Shenzhen Fortune with a short position of Shanghai Rongtai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Fortune and Shanghai Rongtai.
Diversification Opportunities for Shenzhen Fortune and Shanghai Rongtai
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Shenzhen and Shanghai is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Fortune Trend and Shanghai Rongtai Health in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Rongtai Health and Shenzhen Fortune 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 Shenzhen Fortune Trend are associated (or correlated) with Shanghai Rongtai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Rongtai Health has no effect on the direction of Shenzhen Fortune i.e., Shenzhen Fortune and Shanghai Rongtai go up and down completely randomly.
Pair Corralation between Shenzhen Fortune and Shanghai Rongtai
If you would invest 1,169 in Shanghai Rongtai Health on August 31, 2024 and sell it today you would earn a total of 295.00 from holding Shanghai Rongtai Health or generate 25.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Shenzhen Fortune Trend vs. Shanghai Rongtai Health
Performance |
| Timeline |
| Shenzhen Fortune Trend |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| Shanghai Rongtai Health |
Shenzhen Fortune and Shanghai Rongtai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Fortune and Shanghai Rongtai
The main advantage of trading using opposite Shenzhen Fortune and Shanghai Rongtai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Fortune position performs unexpectedly, Shanghai Rongtai 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 Shanghai Rongtai will offset losses from the drop in Shanghai Rongtai's long position.| Shenzhen Fortune vs. Heilongjiang Transport Development | Shenzhen Fortune vs. Allwin Telecommunication Co | Shenzhen Fortune vs. China Sports Industry | Shenzhen Fortune vs. Sportsoul Co Ltd |
| Shanghai Rongtai vs. Offshore Oil Engineering | Shanghai Rongtai vs. Qilu Bank Co | Shanghai Rongtai vs. Industrial Bank Co | Shanghai Rongtai vs. Guangdong Jinma Entertainment |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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