Correlation Between Ceragon Networks and Shenzhen Aisidi
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By analyzing existing cross correlation between Ceragon Networks and Shenzhen Aisidi Co, you can compare the effects of market volatilities on Ceragon Networks and Shenzhen Aisidi 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 Ceragon Networks with a short position of Shenzhen Aisidi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ceragon Networks and Shenzhen Aisidi.
Diversification Opportunities for Ceragon Networks and Shenzhen Aisidi
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Ceragon and Shenzhen is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Ceragon Networks and Shenzhen Aisidi Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Aisidi and Ceragon Networks 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 Ceragon Networks are associated (or correlated) with Shenzhen Aisidi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Aisidi has no effect on the direction of Ceragon Networks i.e., Ceragon Networks and Shenzhen Aisidi go up and down completely randomly.
Pair Corralation between Ceragon Networks and Shenzhen Aisidi
Given the investment horizon of 90 days Ceragon Networks is expected to generate 1.08 times more return on investment than Shenzhen Aisidi. However, Ceragon Networks is 1.08 times more volatile than Shenzhen Aisidi Co. It trades about 0.07 of its potential returns per unit of risk. Shenzhen Aisidi Co is currently generating about 0.06 per unit of risk. If you would invest 202.00 in Ceragon Networks on September 3, 2024 and sell it today you would earn a total of 252.00 from holding Ceragon Networks or generate 124.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 96.36% |
| Values | Daily Returns |
Ceragon Networks vs. Shenzhen Aisidi Co
Performance |
| Timeline |
| Ceragon Networks |
| Shenzhen Aisidi |
Ceragon Networks and Shenzhen Aisidi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ceragon Networks and Shenzhen Aisidi
The main advantage of trading using opposite Ceragon Networks and Shenzhen Aisidi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ceragon Networks position performs unexpectedly, Shenzhen Aisidi 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 Shenzhen Aisidi will offset losses from the drop in Shenzhen Aisidi's long position.| Ceragon Networks vs. Cambium Networks Corp | Ceragon Networks vs. KVH Industries | Ceragon Networks vs. Knowles Cor | Ceragon Networks vs. AudioCodes |
| Shenzhen Aisidi vs. Xiamen Bank Co | Shenzhen Aisidi vs. Jiangsu Financial Leasing | Shenzhen Aisidi vs. Jiangsu Jinling Sports | Shenzhen Aisidi vs. Agricultural Bank of |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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