Correlation Between Zhejiang Tailin and Postal Savings
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By analyzing existing cross correlation between Zhejiang Tailin Bioengineering and Postal Savings Bank, you can compare the effects of market volatilities on Zhejiang Tailin and Postal Savings 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 Zhejiang Tailin with a short position of Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zhejiang Tailin and Postal Savings.
Diversification Opportunities for Zhejiang Tailin and Postal Savings
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Zhejiang and Postal is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Tailin Bioengineering and Postal Savings Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Postal Savings Bank and Zhejiang Tailin 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 Zhejiang Tailin Bioengineering are associated (or correlated) with Postal Savings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Postal Savings Bank has no effect on the direction of Zhejiang Tailin i.e., Zhejiang Tailin and Postal Savings go up and down completely randomly.
Pair Corralation between Zhejiang Tailin and Postal Savings
Assuming the 90 days trading horizon Zhejiang Tailin Bioengineering is expected to under-perform the Postal Savings. In addition to that, Zhejiang Tailin is 1.75 times more volatile than Postal Savings Bank. It trades about -0.13 of its total potential returns per unit of risk. Postal Savings Bank is currently generating about 0.01 per unit of volatility. If you would invest 525.00 in Postal Savings Bank on November 15, 2024 and sell it today you would earn a total of 2.00 from holding Postal Savings Bank or generate 0.38% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Zhejiang Tailin Bioengineering vs. Postal Savings Bank
Performance |
Timeline |
Zhejiang Tailin Bioe |
Postal Savings Bank |
Zhejiang Tailin and Postal Savings Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Zhejiang Tailin and Postal Savings
The main advantage of trading using opposite Zhejiang Tailin and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zhejiang Tailin position performs unexpectedly, Postal Savings 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 Postal Savings will offset losses from the drop in Postal Savings' long position.Zhejiang Tailin vs. Sichuan Fulin Transportation | ||
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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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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