Correlation Between Biwin Storage and Grandblue Environment
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By analyzing existing cross correlation between Biwin Storage Technology and Grandblue Environment Co, you can compare the effects of market volatilities on Biwin Storage and Grandblue Environment 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 Grandblue Environment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biwin Storage and Grandblue Environment.
Diversification Opportunities for Biwin Storage and Grandblue Environment
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Biwin and Grandblue is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Biwin Storage Technology and Grandblue Environment Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grandblue Environment 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 Grandblue Environment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grandblue Environment has no effect on the direction of Biwin Storage i.e., Biwin Storage and Grandblue Environment go up and down completely randomly.
Pair Corralation between Biwin Storage and Grandblue Environment
Assuming the 90 days trading horizon Biwin Storage Technology is expected to generate 1.82 times more return on investment than Grandblue Environment. However, Biwin Storage is 1.82 times more volatile than Grandblue Environment Co. It trades about 0.28 of its potential returns per unit of risk. Grandblue Environment Co is currently generating about -0.04 per unit of risk. If you would invest 5,650 in Biwin Storage Technology on December 11, 2024 and sell it today you would earn a total of 2,164 from holding Biwin Storage Technology or generate 38.3% 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. Grandblue Environment Co
Performance |
| Timeline |
| Biwin Storage Technology |
| Grandblue Environment |
Biwin Storage and Grandblue Environment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Biwin Storage and Grandblue Environment
The main advantage of trading using opposite Biwin Storage and Grandblue Environment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biwin Storage position performs unexpectedly, Grandblue Environment 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 Grandblue Environment will offset losses from the drop in Grandblue Environment's long position.| Biwin Storage vs. China State Construction | Biwin Storage vs. Poly Real Estate | Biwin Storage vs. China Merchants Shekou | Biwin Storage vs. Huafa Industrial Co |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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