Correlation Between Xunlei and Xiabuxiabu Catering
Can any of the company-specific risk be diversified away by investing in both Xunlei and Xiabuxiabu Catering 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 Xunlei and Xiabuxiabu Catering into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Xunlei Ltd Adr and Xiabuxiabu Catering Management, you can compare the effects of market volatilities on Xunlei and Xiabuxiabu Catering 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 Xunlei with a short position of Xiabuxiabu Catering. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xunlei and Xiabuxiabu Catering.
Diversification Opportunities for Xunlei and Xiabuxiabu Catering
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Xunlei and Xiabuxiabu is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Xunlei Ltd Adr and Xiabuxiabu Catering Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiabuxiabu Catering and Xunlei 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 Xunlei Ltd Adr are associated (or correlated) with Xiabuxiabu Catering. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiabuxiabu Catering has no effect on the direction of Xunlei i.e., Xunlei and Xiabuxiabu Catering go up and down completely randomly.
Pair Corralation between Xunlei and Xiabuxiabu Catering
If you would invest 211.00 in Xunlei Ltd Adr on September 14, 2024 and sell it today you would earn a total of 0.00 from holding Xunlei Ltd Adr or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xunlei Ltd Adr vs. Xiabuxiabu Catering Management
Performance |
| Timeline |
| Xunlei Ltd Adr |
| Xiabuxiabu Catering |
Xunlei and Xiabuxiabu Catering Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xunlei and Xiabuxiabu Catering
The main advantage of trading using opposite Xunlei and Xiabuxiabu Catering positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xunlei position performs unexpectedly, Xiabuxiabu Catering 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 Xiabuxiabu Catering will offset losses from the drop in Xiabuxiabu Catering's long position.| Xunlei vs. Travelzoo | Xunlei vs. Emerald Expositions Events | Xunlei vs. Ziff Davis | Xunlei vs. Direct Digital Holdings |
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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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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