Correlation Between Hunan Investment and Bosera CMSK
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By analyzing existing cross correlation between Hunan Investment Group and Bosera CMSK Industrial, you can compare the effects of market volatilities on Hunan Investment and Bosera CMSK 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 Hunan Investment with a short position of Bosera CMSK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hunan Investment and Bosera CMSK.
Diversification Opportunities for Hunan Investment and Bosera CMSK
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Hunan and Bosera is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hunan Investment Group and Bosera CMSK Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bosera CMSK Industrial and Hunan Investment 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 Hunan Investment Group are associated (or correlated) with Bosera CMSK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bosera CMSK Industrial has no effect on the direction of Hunan Investment i.e., Hunan Investment and Bosera CMSK go up and down completely randomly.
Pair Corralation between Hunan Investment and Bosera CMSK
Assuming the 90 days trading horizon Hunan Investment Group is expected to under-perform the Bosera CMSK. In addition to that, Hunan Investment is 4.37 times more volatile than Bosera CMSK Industrial. It trades about -0.01 of its total potential returns per unit of risk. Bosera CMSK Industrial is currently generating about 0.21 per unit of volatility. If you would invest 193.00 in Bosera CMSK Industrial on October 6, 2024 and sell it today you would earn a total of 13.00 from holding Bosera CMSK Industrial or generate 6.74% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Hunan Investment Group vs. Bosera CMSK Industrial
Performance |
Timeline |
Hunan Investment |
Bosera CMSK Industrial |
Hunan Investment and Bosera CMSK Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Hunan Investment and Bosera CMSK
The main advantage of trading using opposite Hunan Investment and Bosera CMSK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hunan Investment position performs unexpectedly, Bosera CMSK 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 Bosera CMSK will offset losses from the drop in Bosera CMSK's long position.Hunan Investment vs. China Life Insurance | Hunan Investment vs. Cinda Securities Co | Hunan Investment vs. Piotech Inc A | Hunan Investment vs. Dongxing Sec Co |
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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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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