Correlation Between Guilin Seamild and AVIC UAS
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By analyzing existing cross correlation between Guilin Seamild Foods and AVIC UAS Co, you can compare the effects of market volatilities on Guilin Seamild and AVIC UAS 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 Guilin Seamild with a short position of AVIC UAS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and AVIC UAS.
Diversification Opportunities for Guilin Seamild and AVIC UAS
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Guilin and AVIC is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and AVIC UAS Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AVIC UAS and Guilin Seamild 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 Guilin Seamild Foods are associated (or correlated) with AVIC UAS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AVIC UAS has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and AVIC UAS go up and down completely randomly.
Pair Corralation between Guilin Seamild and AVIC UAS
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 0.53 times more return on investment than AVIC UAS. However, Guilin Seamild Foods is 1.89 times less risky than AVIC UAS. It trades about 0.14 of its potential returns per unit of risk. AVIC UAS Co is currently generating about 0.06 per unit of risk. If you would invest 1,329 in Guilin Seamild Foods on September 30, 2024 and sell it today you would earn a total of 329.00 from holding Guilin Seamild Foods or generate 24.76% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Guilin Seamild Foods vs. AVIC UAS Co
Performance |
Timeline |
Guilin Seamild Foods |
AVIC UAS |
Guilin Seamild and AVIC UAS Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Guilin Seamild and AVIC UAS
The main advantage of trading using opposite Guilin Seamild and AVIC UAS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, AVIC UAS 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 AVIC UAS will offset losses from the drop in AVIC UAS's long position.Guilin Seamild vs. Ming Yang Smart | ||
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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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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