Correlation Between Biwin Storage and Guangzhou Shiyuan
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By analyzing existing cross correlation between Biwin Storage Technology and Guangzhou Shiyuan Electronic, you can compare the effects of market volatilities on Biwin Storage and Guangzhou Shiyuan 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 Guangzhou Shiyuan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biwin Storage and Guangzhou Shiyuan.
Diversification Opportunities for Biwin Storage and Guangzhou Shiyuan
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Biwin and Guangzhou is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Biwin Storage Technology and Guangzhou Shiyuan Electronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangzhou Shiyuan 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 Guangzhou Shiyuan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangzhou Shiyuan has no effect on the direction of Biwin Storage i.e., Biwin Storage and Guangzhou Shiyuan go up and down completely randomly.
Pair Corralation between Biwin Storage and Guangzhou Shiyuan
If you would invest 2,400 in Biwin Storage Technology on October 25, 2024 and sell it today you would earn a total of 3,859 from holding Biwin Storage Technology or generate 160.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.21% |
| Values | Daily Returns |
Biwin Storage Technology vs. Guangzhou Shiyuan Electronic
Performance |
| Timeline |
| Biwin Storage Technology |
| Guangzhou Shiyuan |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Biwin Storage and Guangzhou Shiyuan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Biwin Storage and Guangzhou Shiyuan
The main advantage of trading using opposite Biwin Storage and Guangzhou Shiyuan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biwin Storage position performs unexpectedly, Guangzhou Shiyuan 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 Guangzhou Shiyuan will offset losses from the drop in Guangzhou Shiyuan's long position.| Biwin Storage vs. Offshore Oil Engineering | Biwin Storage vs. Hainan Mining Co | Biwin Storage vs. CSSC Offshore Marine | Biwin Storage vs. Chengtun Mining Group |
| Guangzhou Shiyuan vs. Fiberhome Telecommunication Technologies | Guangzhou Shiyuan vs. Ziel Home Furnishing | Guangzhou Shiyuan vs. Nanjing OLO Home | Guangzhou Shiyuan vs. Hainan Haiqi Transportation |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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