Correlation Between Bank of Suzhou and Beijing Roborock
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By analyzing existing cross correlation between Bank of Suzhou and Beijing Roborock Technology, you can compare the effects of market volatilities on Bank of Suzhou and Beijing Roborock 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 Bank of Suzhou with a short position of Beijing Roborock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank of Suzhou and Beijing Roborock.
Diversification Opportunities for Bank of Suzhou and Beijing Roborock
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Bank and Beijing is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Bank of Suzhou and Beijing Roborock Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Roborock Tec and Bank of Suzhou 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 Bank of Suzhou are associated (or correlated) with Beijing Roborock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Roborock Tec has no effect on the direction of Bank of Suzhou i.e., Bank of Suzhou and Beijing Roborock go up and down completely randomly.
Pair Corralation between Bank of Suzhou and Beijing Roborock
Assuming the 90 days trading horizon Bank of Suzhou is expected to under-perform the Beijing Roborock. But the stock apears to be less risky and, when comparing its historical volatility, Bank of Suzhou is 2.08 times less risky than Beijing Roborock. The stock trades about -0.11 of its potential returns per unit of risk. The Beijing Roborock Technology is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 22,380 in Beijing Roborock Technology on December 11, 2024 and sell it today you would earn a total of 2,202 from holding Beijing Roborock Technology or generate 9.84% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Bank of Suzhou vs. Beijing Roborock Technology
Performance |
Timeline |
Bank of Suzhou |
Beijing Roborock Tec |
Bank of Suzhou and Beijing Roborock Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Bank of Suzhou and Beijing Roborock
The main advantage of trading using opposite Bank of Suzhou and Beijing Roborock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank of Suzhou position performs unexpectedly, Beijing Roborock 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 Beijing Roborock will offset losses from the drop in Beijing Roborock's long position.Bank of Suzhou vs. Huizhou Speed Wireless | Bank of Suzhou vs. Jilin Jlu Communication | Bank of Suzhou vs. Zijin Mining Group | Bank of Suzhou vs. Zotye Automobile Co |
Beijing Roborock vs. Zhengzhou Coal Mining | Beijing Roborock vs. Unigroup Guoxin Microelectronics | Beijing Roborock vs. Kunshan Guoli Electronic | Beijing Roborock vs. Fujian Nebula Electronics |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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