Correlation Between Gotion High and Hainan HNA
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By analyzing existing cross correlation between Gotion High tech and Hainan HNA Infrastructure, you can compare the effects of market volatilities on Gotion High and Hainan HNA 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 Gotion High with a short position of Hainan HNA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gotion High and Hainan HNA.
Diversification Opportunities for Gotion High and Hainan HNA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Gotion and Hainan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Gotion High tech and Hainan HNA Infrastructure in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hainan HNA Infrastructure and Gotion High 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 Gotion High tech are associated (or correlated) with Hainan HNA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hainan HNA Infrastructure has no effect on the direction of Gotion High i.e., Gotion High and Hainan HNA go up and down completely randomly.
Pair Corralation between Gotion High and Hainan HNA
If you would invest (100.00) in Hainan HNA Infrastructure on October 11, 2024 and sell it today you would earn a total of 100.00 from holding Hainan HNA Infrastructure or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Gotion High tech vs. Hainan HNA Infrastructure
Performance |
Timeline |
Gotion High tech |
Hainan HNA Infrastructure |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Gotion High and Hainan HNA Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Gotion High and Hainan HNA
The main advantage of trading using opposite Gotion High and Hainan HNA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gotion High position performs unexpectedly, Hainan HNA 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 Hainan HNA will offset losses from the drop in Hainan HNA's long position.Gotion High vs. Lonkey Industrial 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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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