Correlation Between Beijing Seeyon and Tianjin Hi
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By analyzing existing cross correlation between Beijing Seeyon Internet and Tianjin Hi Tech Development, you can compare the effects of market volatilities on Beijing Seeyon and Tianjin Hi 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 Beijing Seeyon with a short position of Tianjin Hi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Seeyon and Tianjin Hi.
Diversification Opportunities for Beijing Seeyon and Tianjin Hi
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Beijing and Tianjin is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Seeyon Internet and Tianjin Hi Tech Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tianjin Hi Tech and Beijing Seeyon 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 Beijing Seeyon Internet are associated (or correlated) with Tianjin Hi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tianjin Hi Tech has no effect on the direction of Beijing Seeyon i.e., Beijing Seeyon and Tianjin Hi go up and down completely randomly.
Pair Corralation between Beijing Seeyon and Tianjin Hi
Assuming the 90 days trading horizon Beijing Seeyon Internet is expected to generate 1.24 times more return on investment than Tianjin Hi. However, Beijing Seeyon is 1.24 times more volatile than Tianjin Hi Tech Development. It trades about 0.0 of its potential returns per unit of risk. Tianjin Hi Tech Development is currently generating about -0.01 per unit of risk. If you would invest 2,100 in Beijing Seeyon Internet on October 26, 2024 and sell it today you would lose (100.00) from holding Beijing Seeyon Internet or give up 4.76% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Seeyon Internet vs. Tianjin Hi Tech Development
Performance |
| Timeline |
| Beijing Seeyon Internet |
| Tianjin Hi Tech |
Beijing Seeyon and Tianjin Hi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Seeyon and Tianjin Hi
The main advantage of trading using opposite Beijing Seeyon and Tianjin Hi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Seeyon position performs unexpectedly, Tianjin Hi 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 Tianjin Hi will offset losses from the drop in Tianjin Hi's long position.| Beijing Seeyon vs. Fiberhome Telecommunication Technologies | Beijing Seeyon vs. Sinomach Automobile Co | Beijing Seeyon vs. Dazhong Transportation Group | Beijing Seeyon vs. Nanjing Putian Telecommunications |
| Tianjin Hi vs. Beijing Mainstreets Investment | Tianjin Hi vs. Shandong Polymer Biochemicals | Tianjin Hi vs. Zhongrun Resources Investment | Tianjin Hi vs. Shenzhen Noposion Agrochemicals |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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