Correlation Between FrontView REIT, and Beijing Tongyizhong
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By analyzing existing cross correlation between FrontView REIT, and Beijing Tongyizhong New, you can compare the effects of market volatilities on FrontView REIT, and Beijing Tongyizhong 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 Beijing Tongyizhong. Check out your portfolio center. Please also check ongoing floating volatility patterns of FrontView REIT, and Beijing Tongyizhong.
Diversification Opportunities for FrontView REIT, and Beijing Tongyizhong
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between FrontView and Beijing is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding FrontView REIT, and Beijing Tongyizhong New in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Tongyizhong New 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 Beijing Tongyizhong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Tongyizhong New has no effect on the direction of FrontView REIT, i.e., FrontView REIT, and Beijing Tongyizhong go up and down completely randomly.
Pair Corralation between FrontView REIT, and Beijing Tongyizhong
Considering the 90-day investment horizon FrontView REIT, is expected to under-perform the Beijing Tongyizhong. But the stock apears to be less risky and, when comparing its historical volatility, FrontView REIT, is 1.92 times less risky than Beijing Tongyizhong. The stock trades about -0.01 of its potential returns per unit of risk. The Beijing Tongyizhong New is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 1,426 in Beijing Tongyizhong New on September 14, 2024 and sell it today you would lose (3.00) from holding Beijing Tongyizhong New or give up 0.21% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 22.27% |
| Values | Daily Returns |
FrontView REIT, vs. Beijing Tongyizhong New
Performance |
| Timeline |
| FrontView REIT, |
| Beijing Tongyizhong New |
FrontView REIT, and Beijing Tongyizhong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FrontView REIT, and Beijing Tongyizhong
The main advantage of trading using opposite FrontView REIT, and Beijing Tongyizhong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FrontView REIT, position performs unexpectedly, Beijing Tongyizhong 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 Beijing Tongyizhong will offset losses from the drop in Beijing Tongyizhong's long position.| FrontView REIT, vs. Hudson Pacific Properties | FrontView REIT, vs. Highway Holdings Limited | FrontView REIT, vs. JBG SMITH Properties | FrontView REIT, vs. RBC Bearings Incorporated |
| Beijing Tongyizhong vs. Anhui Deli Household | Beijing Tongyizhong vs. Hainan Haiqi Transportation | Beijing Tongyizhong vs. Chongqing Changan Automobile | Beijing Tongyizhong vs. Yindu Kitchen Equipment |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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