Correlation Between China Tontine and GENERAL
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By analyzing existing cross correlation between China Tontine Wines and GENERAL ELEC CAP, you can compare the effects of market volatilities on China Tontine and GENERAL 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 China Tontine with a short position of GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Tontine and GENERAL.
Diversification Opportunities for China Tontine and GENERAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between China and GENERAL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding China Tontine Wines and GENERAL ELEC CAP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GENERAL ELEC CAP and China Tontine 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 China Tontine Wines are associated (or correlated) with GENERAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GENERAL ELEC CAP has no effect on the direction of China Tontine i.e., China Tontine and GENERAL go up and down completely randomly.
Pair Corralation between China Tontine and GENERAL
Assuming the 90 days horizon China Tontine Wines is expected to generate 29.77 times more return on investment than GENERAL. However, China Tontine is 29.77 times more volatile than GENERAL ELEC CAP. It trades about 0.07 of its potential returns per unit of risk. GENERAL ELEC CAP is currently generating about -0.01 per unit of risk. If you would invest 0.30 in China Tontine Wines on September 14, 2024 and sell it today you would earn a total of 6.80 from holding China Tontine Wines or generate 2266.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 37.75% |
| Values | Daily Returns |
China Tontine Wines vs. GENERAL ELEC CAP
Performance |
| Timeline |
| China Tontine Wines |
| GENERAL ELEC CAP |
China Tontine and GENERAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Tontine and GENERAL
The main advantage of trading using opposite China Tontine and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Tontine position performs unexpectedly, GENERAL 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 GENERAL will offset losses from the drop in GENERAL's long position.| China Tontine vs. Glacier Bancorp | China Tontine vs. Freedom Bank of | China Tontine vs. Cheniere Energy Partners | China Tontine vs. LithiumBank Resources Corp |
| GENERAL vs. Teleflex Incorporated | GENERAL vs. Amgen Inc | GENERAL vs. Merit Medical Systems | GENERAL vs. United Fire Group |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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