Correlation Between Beijing Shunxin and Hunan Investment
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By analyzing existing cross correlation between Beijing Shunxin Agriculture and Hunan Investment Group, you can compare the effects of market volatilities on Beijing Shunxin and Hunan Investment 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 Beijing Shunxin with a short position of Hunan Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Shunxin and Hunan Investment.
Diversification Opportunities for Beijing Shunxin and Hunan Investment
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Beijing and Hunan is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Shunxin Agriculture and Hunan Investment Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hunan Investment and Beijing Shunxin 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 Beijing Shunxin Agriculture are associated (or correlated) with Hunan Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hunan Investment has no effect on the direction of Beijing Shunxin i.e., Beijing Shunxin and Hunan Investment go up and down completely randomly.
Pair Corralation between Beijing Shunxin and Hunan Investment
If you would invest 528.00 in Hunan Investment Group on November 21, 2024 and sell it today you would lose (12.00) from holding Hunan Investment Group or give up 2.27% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Beijing Shunxin Agriculture vs. Hunan Investment Group
Performance |
Timeline |
Beijing Shunxin Agri |
Hunan Investment |
Beijing Shunxin and Hunan Investment Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Beijing Shunxin and Hunan Investment
The main advantage of trading using opposite Beijing Shunxin and Hunan Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Shunxin position performs unexpectedly, Hunan Investment 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 Hunan Investment will offset losses from the drop in Hunan Investment's long position.Beijing Shunxin vs. HaiXin Foods 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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