Correlation Between Biwin Storage and Cloud Live
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By analyzing existing cross correlation between Biwin Storage Technology and Cloud Live Technology, you can compare the effects of market volatilities on Biwin Storage and Cloud Live 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 Biwin Storage with a short position of Cloud Live. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biwin Storage and Cloud Live.
Diversification Opportunities for Biwin Storage and Cloud Live
-0.06 | Correlation Coefficient |
Good diversification
The 3 months correlation between Biwin and Cloud is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding Biwin Storage Technology and Cloud Live Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cloud Live Technology and Biwin Storage 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 Biwin Storage Technology are associated (or correlated) with Cloud Live. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cloud Live Technology has no effect on the direction of Biwin Storage i.e., Biwin Storage and Cloud Live go up and down completely randomly.
Pair Corralation between Biwin Storage and Cloud Live
Assuming the 90 days trading horizon Biwin Storage Technology is expected to generate 0.63 times more return on investment than Cloud Live. However, Biwin Storage Technology is 1.6 times less risky than Cloud Live. It trades about 0.05 of its potential returns per unit of risk. Cloud Live Technology is currently generating about -0.22 per unit of risk. If you would invest 5,791 in Biwin Storage Technology on October 26, 2024 and sell it today you would earn a total of 301.00 from holding Biwin Storage Technology or generate 5.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Biwin Storage Technology vs. Cloud Live Technology
Performance |
| Timeline |
| Biwin Storage Technology |
| Cloud Live Technology |
Biwin Storage and Cloud Live Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Biwin Storage and Cloud Live
The main advantage of trading using opposite Biwin Storage and Cloud Live positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biwin Storage position performs unexpectedly, Cloud Live 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 Cloud Live will offset losses from the drop in Cloud Live's long position.| Biwin Storage vs. Cloud Live Technology | Biwin Storage vs. Nanjing Putian Telecommunications | Biwin Storage vs. Shenzhen Coship Electronics | Biwin Storage vs. Shenzhen Hifuture Electric |
| Cloud Live vs. Kontour Medical Technology | Cloud Live vs. Fujian Wanchen Biotechnology | Cloud Live vs. Xiangyu Medical Co | Cloud Live vs. Zhongzhu Medical Holdings |
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 CEOs Directory module to screen CEOs from public companies around the world.
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