Correlation Between Uxi Unicomp and Huaxia Fund
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By analyzing existing cross correlation between Uxi Unicomp Technology and Huaxia Fund Management, you can compare the effects of market volatilities on Uxi Unicomp and Huaxia Fund 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 Uxi Unicomp with a short position of Huaxia Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Uxi Unicomp and Huaxia Fund.
Diversification Opportunities for Uxi Unicomp and Huaxia Fund
-0.75 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Uxi and Huaxia is -0.75. Overlapping area represents the amount of risk that can be diversified away by holding Uxi Unicomp Technology and Huaxia Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huaxia Fund Management and Uxi Unicomp 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 Uxi Unicomp Technology are associated (or correlated) with Huaxia Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huaxia Fund Management has no effect on the direction of Uxi Unicomp i.e., Uxi Unicomp and Huaxia Fund go up and down completely randomly.
Pair Corralation between Uxi Unicomp and Huaxia Fund
Assuming the 90 days trading horizon Uxi Unicomp Technology is expected to generate 2.56 times more return on investment than Huaxia Fund. However, Uxi Unicomp is 2.56 times more volatile than Huaxia Fund Management. It trades about 0.34 of its potential returns per unit of risk. Huaxia Fund Management is currently generating about 0.1 per unit of risk. If you would invest 4,545 in Uxi Unicomp Technology on November 5, 2024 and sell it today you would earn a total of 662.00 from holding Uxi Unicomp Technology or generate 14.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Uxi Unicomp Technology vs. Huaxia Fund Management
Performance |
| Timeline |
| Uxi Unicomp Technology |
| Huaxia Fund Management |
Uxi Unicomp and Huaxia Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Uxi Unicomp and Huaxia Fund
The main advantage of trading using opposite Uxi Unicomp and Huaxia Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Uxi Unicomp position performs unexpectedly, Huaxia Fund 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 Huaxia Fund will offset losses from the drop in Huaxia Fund's long position.| Uxi Unicomp vs. Guangzhou Zhujiang Brewery | Uxi Unicomp vs. Luyin Investment Group | Uxi Unicomp vs. Beijing Yanjing Brewery | Uxi Unicomp vs. Chengdu Xingrong Investment |
| Huaxia Fund vs. Jiangsu Financial Leasing | Huaxia Fund vs. Guosheng Financial Holding | Huaxia Fund vs. Giantec Semiconductor Corp | Huaxia Fund vs. Lecron Energy Saving |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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