Correlation Between FrontView REIT, and China Union
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By analyzing existing cross correlation between FrontView REIT, and China Union Holdings, you can compare the effects of market volatilities on FrontView REIT, and China Union 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 FrontView REIT, with a short position of China Union. Check out your portfolio center. Please also check ongoing floating volatility patterns of FrontView REIT, and China Union.
Diversification Opportunities for FrontView REIT, and China Union
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between FrontView and China is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding FrontView REIT, and China Union Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Union Holdings and FrontView REIT, 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 FrontView REIT, are associated (or correlated) with China Union. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Union Holdings has no effect on the direction of FrontView REIT, i.e., FrontView REIT, and China Union go up and down completely randomly.
Pair Corralation between FrontView REIT, and China Union
Considering the 90-day investment horizon FrontView REIT, is expected to under-perform the China Union. But the stock apears to be less risky and, when comparing its historical volatility, FrontView REIT, is 1.33 times less risky than China Union. The stock trades about -0.14 of its potential returns per unit of risk. The China Union Holdings is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 402.00 in China Union Holdings on October 15, 2024 and sell it today you would lose (30.00) from holding China Union Holdings or give up 7.46% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 14.85% |
Values | Daily Returns |
FrontView REIT, vs. China Union Holdings
Performance |
Timeline |
FrontView REIT, |
China Union Holdings |
FrontView REIT, and China Union Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with FrontView REIT, and China Union
The main advantage of trading using opposite FrontView REIT, and China Union positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FrontView REIT, position performs unexpectedly, China Union 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 Union will offset losses from the drop in China Union's long position.FrontView REIT, vs. Kaiser Aluminum | FrontView REIT, vs. National Vision Holdings | FrontView REIT, vs. Hudson Technologies | FrontView REIT, vs. Grocery Outlet Holding |
China Union vs. Hua Xia Bank | China Union vs. Postal Savings Bank | China Union vs. Unisplendour Corp | China Union vs. Bomesc Offshore Engineering |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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