Correlation Between Leaguer Shenzhen and Shanghai Baosight
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By analyzing existing cross correlation between Leaguer Shenzhen MicroElectronics and Shanghai Baosight Software, you can compare the effects of market volatilities on Leaguer Shenzhen and Shanghai Baosight 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 Leaguer Shenzhen with a short position of Shanghai Baosight. Check out your portfolio center. Please also check ongoing floating volatility patterns of Leaguer Shenzhen and Shanghai Baosight.
Diversification Opportunities for Leaguer Shenzhen and Shanghai Baosight
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Leaguer and Shanghai is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Leaguer Shenzhen MicroElectron and Shanghai Baosight Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Baosight and Leaguer Shenzhen 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 Leaguer Shenzhen MicroElectronics are associated (or correlated) with Shanghai Baosight. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Baosight has no effect on the direction of Leaguer Shenzhen i.e., Leaguer Shenzhen and Shanghai Baosight go up and down completely randomly.
Pair Corralation between Leaguer Shenzhen and Shanghai Baosight
If you would invest 2,517 in Leaguer Shenzhen MicroElectronics on November 29, 2024 and sell it today you would earn a total of 415.00 from holding Leaguer Shenzhen MicroElectronics or generate 16.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 6.25% |
| Values | Daily Returns |
Leaguer Shenzhen MicroElectron vs. Shanghai Baosight Software
Performance |
| Timeline |
| Leaguer Shenzhen Mic |
| Shanghai Baosight |
Risk-Adjusted Performance
OK
Weak | Strong |
Leaguer Shenzhen and Shanghai Baosight Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Leaguer Shenzhen and Shanghai Baosight
The main advantage of trading using opposite Leaguer Shenzhen and Shanghai Baosight positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Leaguer Shenzhen position performs unexpectedly, Shanghai Baosight 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 Shanghai Baosight will offset losses from the drop in Shanghai Baosight's long position.| Leaguer Shenzhen vs. Runjian Communication Co | Leaguer Shenzhen vs. China Sports Industry | Leaguer Shenzhen vs. Aluminum Corp of | Leaguer Shenzhen vs. Shuhua Sports Co |
| Shanghai Baosight vs. Huaibei Mining Holdings | Shanghai Baosight vs. Tonghua Grape Wine | Shanghai Baosight vs. Xiangyang Automobile Bearing | Shanghai Baosight vs. Quectel Wireless Solutions |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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