Correlation Between Beijing Bewinner and Henan Shuanghui
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By analyzing existing cross correlation between Beijing Bewinner Communications and Henan Shuanghui Investment, you can compare the effects of market volatilities on Beijing Bewinner and Henan Shuanghui 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 Bewinner with a short position of Henan Shuanghui. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Bewinner and Henan Shuanghui.
Diversification Opportunities for Beijing Bewinner and Henan Shuanghui
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Beijing and Henan is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Bewinner Communication and Henan Shuanghui Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Henan Shuanghui Inve and Beijing Bewinner 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 Bewinner Communications are associated (or correlated) with Henan Shuanghui. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Henan Shuanghui Inve has no effect on the direction of Beijing Bewinner i.e., Beijing Bewinner and Henan Shuanghui go up and down completely randomly.
Pair Corralation between Beijing Bewinner and Henan Shuanghui
Assuming the 90 days trading horizon Beijing Bewinner Communications is expected to generate 2.89 times more return on investment than Henan Shuanghui. However, Beijing Bewinner is 2.89 times more volatile than Henan Shuanghui Investment. It trades about 0.04 of its potential returns per unit of risk. Henan Shuanghui Investment is currently generating about 0.02 per unit of risk. If you would invest 663.00 in Beijing Bewinner Communications on December 26, 2024 and sell it today you would earn a total of 36.00 from holding Beijing Bewinner Communications or generate 5.43% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Beijing Bewinner Communication vs. Henan Shuanghui Investment
Performance |
Timeline |
Beijing Bewinner Com |
Henan Shuanghui Inve |
Beijing Bewinner and Henan Shuanghui Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Beijing Bewinner and Henan Shuanghui
The main advantage of trading using opposite Beijing Bewinner and Henan Shuanghui positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Bewinner position performs unexpectedly, Henan Shuanghui 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 Henan Shuanghui will offset losses from the drop in Henan Shuanghui's long position.Beijing Bewinner vs. Fujian Nebula Electronics | Beijing Bewinner vs. Guangdong Ellington Electronics | Beijing Bewinner vs. HeNan Splendor Science | Beijing Bewinner vs. Jiangxi Lianchuang Opto electronic |
Henan Shuanghui vs. Epoxy Base Electronic | Henan Shuanghui vs. Nantong Haixing Electronics | Henan Shuanghui vs. Metro Investment Development | Henan Shuanghui vs. Vanfund Urban Investment |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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