Correlation Between Biwin Storage and Sublime China
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By analyzing existing cross correlation between Biwin Storage Technology and Sublime China Information, you can compare the effects of market volatilities on Biwin Storage and Sublime China 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 Sublime China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biwin Storage and Sublime China.
Diversification Opportunities for Biwin Storage and Sublime China
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Biwin and Sublime is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Biwin Storage Technology and Sublime China Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sublime China Information 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 Sublime China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sublime China Information has no effect on the direction of Biwin Storage i.e., Biwin Storage and Sublime China go up and down completely randomly.
Pair Corralation between Biwin Storage and Sublime China
Assuming the 90 days trading horizon Biwin Storage is expected to generate 7.31 times less return on investment than Sublime China. But when comparing it to its historical volatility, Biwin Storage Technology is 2.18 times less risky than Sublime China. It trades about 0.1 of its potential returns per unit of risk. Sublime China Information is currently generating about 0.34 of returns per unit of risk over similar time horizon. If you would invest 5,733 in Sublime China Information on November 7, 2024 and sell it today you would earn a total of 2,275 from holding Sublime China Information or generate 39.68% 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. Sublime China Information
Performance |
| Timeline |
| Biwin Storage Technology |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Sublime China Information |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
Biwin Storage and Sublime China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Biwin Storage and Sublime China
The main advantage of trading using opposite Biwin Storage and Sublime China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biwin Storage position performs unexpectedly, Sublime China 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 Sublime China will offset losses from the drop in Sublime China's long position.The idea behind Biwin Storage Technology and Sublime China Information pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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