Correlation Between Guobo Electronics and Postal Savings
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By analyzing existing cross correlation between Guobo Electronics Co and Postal Savings Bank, you can compare the effects of market volatilities on Guobo Electronics and Postal Savings 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 Guobo Electronics with a short position of Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guobo Electronics and Postal Savings.
Diversification Opportunities for Guobo Electronics and Postal Savings
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Guobo and Postal is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Guobo Electronics Co and Postal Savings Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Postal Savings Bank and Guobo Electronics 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 Guobo Electronics Co are associated (or correlated) with Postal Savings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Postal Savings Bank has no effect on the direction of Guobo Electronics i.e., Guobo Electronics and Postal Savings go up and down completely randomly.
Pair Corralation between Guobo Electronics and Postal Savings
Assuming the 90 days trading horizon Guobo Electronics Co is expected to under-perform the Postal Savings. In addition to that, Guobo Electronics is 1.44 times more volatile than Postal Savings Bank. It trades about -0.13 of its total potential returns per unit of risk. Postal Savings Bank is currently generating about 0.19 per unit of volatility. If you would invest 531.00 in Postal Savings Bank on September 29, 2024 and sell it today you would earn a total of 28.00 from holding Postal Savings Bank or generate 5.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guobo Electronics Co vs. Postal Savings Bank
Performance |
| Timeline |
| Guobo Electronics |
| Postal Savings Bank |
Guobo Electronics and Postal Savings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guobo Electronics and Postal Savings
The main advantage of trading using opposite Guobo Electronics and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guobo Electronics position performs unexpectedly, Postal Savings 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 Postal Savings will offset losses from the drop in Postal Savings' long position.| Guobo Electronics vs. Leaguer Shenzhen MicroElectronics | Guobo Electronics vs. Cofco Biochemical Anhui | Guobo Electronics vs. North Huajin Chemical | Guobo Electronics vs. Nantong Haixing Electronics |
| Postal Savings vs. BYD Co Ltd | Postal Savings vs. China Mobile Limited | Postal Savings vs. Agricultural Bank of | Postal Savings vs. Industrial and Commercial |
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