Correlation Between VIENNA INSURANCE and China Mobile
Can any of the company-specific risk be diversified away by investing in both VIENNA INSURANCE and China Mobile 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 VIENNA INSURANCE and China Mobile into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between VIENNA INSURANCE GR and China Mobile Limited, you can compare the effects of market volatilities on VIENNA INSURANCE and China Mobile 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 VIENNA INSURANCE with a short position of China Mobile. Check out your portfolio center. Please also check ongoing floating volatility patterns of VIENNA INSURANCE and China Mobile.
Diversification Opportunities for VIENNA INSURANCE and China Mobile
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between VIENNA and China is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding VIENNA INSURANCE GR and China Mobile Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Mobile Limited and VIENNA INSURANCE 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 VIENNA INSURANCE GR are associated (or correlated) with China Mobile. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Mobile Limited has no effect on the direction of VIENNA INSURANCE i.e., VIENNA INSURANCE and China Mobile go up and down completely randomly.
Pair Corralation between VIENNA INSURANCE and China Mobile
If you would invest 3,045 in VIENNA INSURANCE GR on November 6, 2024 and sell it today you would earn a total of 190.00 from holding VIENNA INSURANCE GR or generate 6.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
VIENNA INSURANCE GR vs. China Mobile Limited
Performance |
| Timeline |
| VIENNA INSURANCE |
| China Mobile Limited |
VIENNA INSURANCE and China Mobile Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with VIENNA INSURANCE and China Mobile
The main advantage of trading using opposite VIENNA INSURANCE and China Mobile positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if VIENNA INSURANCE position performs unexpectedly, China Mobile 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 Mobile will offset losses from the drop in China Mobile's long position.| VIENNA INSURANCE vs. HAVERTY FURNITURE A | VIENNA INSURANCE vs. Globex Mining Enterprises | VIENNA INSURANCE vs. CAIRN HOMES EO | VIENNA INSURANCE vs. Endeavour Mining PLC |
| China Mobile vs. China BlueChemical | China Mobile vs. Sunstone Hotel Investors | China Mobile vs. Xenia Hotels Resorts | China Mobile vs. BRAEMAR HOTELS RES |
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 Stocks Directory module to find actively traded stocks across global markets.
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