Correlation Between MHP Hotel and CHINA TONTINE
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By analyzing existing cross correlation between MHP Hotel AG and CHINA TONTINE WINES, you can compare the effects of market volatilities on MHP Hotel and CHINA TONTINE 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 MHP Hotel with a short position of CHINA TONTINE. Check out your portfolio center. Please also check ongoing floating volatility patterns of MHP Hotel and CHINA TONTINE.
Diversification Opportunities for MHP Hotel and CHINA TONTINE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MHP and CHINA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MHP Hotel AG and CHINA TONTINE WINES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CHINA TONTINE WINES and MHP Hotel 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 MHP Hotel AG are associated (or correlated) with CHINA TONTINE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CHINA TONTINE WINES has no effect on the direction of MHP Hotel i.e., MHP Hotel and CHINA TONTINE go up and down completely randomly.
Pair Corralation between MHP Hotel and CHINA TONTINE
If you would invest 117.00 in MHP Hotel AG on October 17, 2024 and sell it today you would earn a total of 9.00 from holding MHP Hotel AG or generate 7.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 94.44% |
| Values | Daily Returns |
MHP Hotel AG vs. CHINA TONTINE WINES
Performance |
| Timeline |
| MHP Hotel AG |
| CHINA TONTINE WINES |
MHP Hotel and CHINA TONTINE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MHP Hotel and CHINA TONTINE
The main advantage of trading using opposite MHP Hotel and CHINA TONTINE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MHP Hotel position performs unexpectedly, CHINA TONTINE 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 CHINA TONTINE will offset losses from the drop in CHINA TONTINE's long position.| MHP Hotel vs. Brockhaus Capital Management | MHP Hotel vs. Coor Service Management | MHP Hotel vs. MCEWEN MINING INC | MHP Hotel vs. AGF Management Limited |
| CHINA TONTINE vs. COVIVIO HOTELS INH | CHINA TONTINE vs. Playa Hotels Resorts | CHINA TONTINE vs. Singapore Airlines Limited | CHINA TONTINE vs. MHP Hotel AG |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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