Correlation Between Shanghai V-Test and Winner Medical Co
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By analyzing existing cross correlation between Shanghai V Test Semiconductor and Winner Medical Co, you can compare the effects of market volatilities on Shanghai V-Test and Winner Medical Co 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 Shanghai V-Test with a short position of Winner Medical Co. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shanghai V-Test and Winner Medical Co.
Diversification Opportunities for Shanghai V-Test and Winner Medical Co
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Shanghai and Winner is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai V Test Semiconductor and Winner Medical Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Winner Medical Co and Shanghai V-Test 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 Shanghai V Test Semiconductor are associated (or correlated) with Winner Medical Co. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Winner Medical Co has no effect on the direction of Shanghai V-Test i.e., Shanghai V-Test and Winner Medical Co go up and down completely randomly.
Pair Corralation between Shanghai V-Test and Winner Medical Co
Assuming the 90 days trading horizon Shanghai V Test Semiconductor is expected to generate 1.14 times more return on investment than Winner Medical Co. However, Shanghai V-Test is 1.14 times more volatile than Winner Medical Co. It trades about 0.21 of its potential returns per unit of risk. Winner Medical Co is currently generating about 0.14 per unit of risk. If you would invest 7,636 in Shanghai V Test Semiconductor on December 8, 2024 and sell it today you would earn a total of 1,259 from holding Shanghai V Test Semiconductor or generate 16.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shanghai V Test Semiconductor vs. Winner Medical Co
Performance |
| Timeline |
| Shanghai V Test |
| Winner Medical Co |
Shanghai V-Test and Winner Medical Co Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shanghai V-Test and Winner Medical Co
The main advantage of trading using opposite Shanghai V-Test and Winner Medical Co positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shanghai V-Test position performs unexpectedly, Winner Medical Co 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 Winner Medical Co will offset losses from the drop in Winner Medical Co's long position.| Shanghai V-Test vs. Xiamen Bank Co | ||
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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 Transaction History module to view history of all your transactions and understand their impact on performance.
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