Correlation Between Hong Kong and Hong Kong
Can any of the company-specific risk be diversified away by investing in both Hong Kong and Hong Kong at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Hong Kong and Hong Kong into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hong Kong And and Hong Kong and, you can compare the effects of market volatilities on Hong Kong and Hong Kong 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 Hong Kong with a short position of Hong Kong. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hong Kong and Hong Kong.
Diversification Opportunities for Hong Kong and Hong Kong
Modest diversification
The 3 months correlation between Hong and Hong is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Hong Kong And and Hong Kong and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hong Kong and Hong Kong 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 Hong Kong And are associated (or correlated) with Hong Kong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hong Kong has no effect on the direction of Hong Kong i.e., Hong Kong and Hong Kong go up and down completely randomly.
Pair Corralation between Hong Kong and Hong Kong
Assuming the 90 days horizon Hong Kong And is expected to generate 1.48 times more return on investment than Hong Kong. However, Hong Kong is 1.48 times more volatile than Hong Kong and. It trades about 0.12 of its potential returns per unit of risk. Hong Kong and is currently generating about 0.04 per unit of risk. If you would invest 46.00 in Hong Kong And on August 29, 2024 and sell it today you would earn a total of 25.00 from holding Hong Kong And or generate 54.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 37.32% |
| Values | Daily Returns |
Hong Kong And vs. Hong Kong and
Performance |
| Timeline |
| Hong Kong And |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Hong Kong |
Hong Kong and Hong Kong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hong Kong and Hong Kong
The main advantage of trading using opposite Hong Kong and Hong Kong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hong Kong position performs unexpectedly, Hong Kong 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 Hong Kong will offset losses from the drop in Hong Kong's long position.| Hong Kong vs. Hong Kong and | Hong Kong vs. China Life Insurance | Hong Kong vs. Henderson Land Development | Hong Kong vs. Fortum Oyj ADR |
| Hong Kong vs. Henderson Land Development | Hong Kong vs. CLP Holdings | Hong Kong vs. Power Assets Holdings | Hong Kong vs. Hang Lung Properties |
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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