Correlation Between China Securities and Sailun Jinyu
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By analyzing existing cross correlation between China Securities 800 and Sailun Jinyu Group, you can compare the effects of market volatilities on China Securities and Sailun Jinyu 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 China Securities with a short position of Sailun Jinyu. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Sailun Jinyu.
Diversification Opportunities for China Securities and Sailun Jinyu
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between China and Sailun is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Sailun Jinyu Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sailun Jinyu Group and China Securities 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 China Securities 800 are associated (or correlated) with Sailun Jinyu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sailun Jinyu Group has no effect on the direction of China Securities i.e., China Securities and Sailun Jinyu go up and down completely randomly.
Pair Corralation between China Securities and Sailun Jinyu
Assuming the 90 days trading horizon China Securities 800 is expected to generate 1.02 times more return on investment than Sailun Jinyu. However, China Securities is 1.02 times more volatile than Sailun Jinyu Group. It trades about 0.17 of its potential returns per unit of risk. Sailun Jinyu Group is currently generating about 0.02 per unit of risk. If you would invest 341,692 in China Securities 800 on September 23, 2024 and sell it today you would earn a total of 83,962 from holding China Securities 800 or generate 24.57% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
China Securities 800 vs. Sailun Jinyu Group
Performance |
Timeline |
China Securities and Sailun Jinyu Volatility Contrast
Predicted Return Density |
Returns |
China Securities 800
Pair trading matchups for China Securities
Sailun Jinyu Group
Pair trading matchups for Sailun Jinyu
Pair Trading with China Securities and Sailun Jinyu
The main advantage of trading using opposite China Securities and Sailun Jinyu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Sailun Jinyu 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 Sailun Jinyu will offset losses from the drop in Sailun Jinyu's long position.China Securities vs. Hengdian Entertainment 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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