Correlation Between Biwin Storage and Guangxi Wuzhou
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By analyzing existing cross correlation between Biwin Storage Technology and Guangxi Wuzhou Communications, you can compare the effects of market volatilities on Biwin Storage and Guangxi Wuzhou 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 Guangxi Wuzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biwin Storage and Guangxi Wuzhou.
Diversification Opportunities for Biwin Storage and Guangxi Wuzhou
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Biwin and Guangxi is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Biwin Storage Technology and Guangxi Wuzhou Communications in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangxi Wuzhou Commu 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 Guangxi Wuzhou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangxi Wuzhou Commu has no effect on the direction of Biwin Storage i.e., Biwin Storage and Guangxi Wuzhou go up and down completely randomly.
Pair Corralation between Biwin Storage and Guangxi Wuzhou
Assuming the 90 days trading horizon Biwin Storage Technology is expected to generate 1.81 times more return on investment than Guangxi Wuzhou. However, Biwin Storage is 1.81 times more volatile than Guangxi Wuzhou Communications. It trades about 0.3 of its potential returns per unit of risk. Guangxi Wuzhou Communications is currently generating about -0.06 per unit of risk. If you would invest 5,950 in Biwin Storage Technology on November 28, 2024 and sell it today you would earn a total of 933.00 from holding Biwin Storage Technology or generate 15.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Biwin Storage Technology vs. Guangxi Wuzhou Communications
Performance |
| Timeline |
| Biwin Storage Technology |
| Guangxi Wuzhou Commu |
Biwin Storage and Guangxi Wuzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Biwin Storage and Guangxi Wuzhou
The main advantage of trading using opposite Biwin Storage and Guangxi Wuzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biwin Storage position performs unexpectedly, Guangxi Wuzhou 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 Guangxi Wuzhou will offset losses from the drop in Guangxi Wuzhou's long position.| Biwin Storage vs. Metro Investment Development | Biwin Storage vs. Shenzhen Centralcon Investment | Biwin Storage vs. Shenzhen Glory Medical | Biwin Storage vs. Lootom Telcovideo Network |
| Guangxi Wuzhou vs. Taiji Computer Corp | Guangxi Wuzhou vs. Gifore Agricultural Machinery | Guangxi Wuzhou vs. Jilin Jlu Communication | Guangxi Wuzhou vs. Strait Innovation Internet |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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