Correlation Between Harvest Fund and HUAQIN TECHNOLOGY
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By analyzing existing cross correlation between Harvest Fund Management and HUAQIN TECHNOLOGY LTD, you can compare the effects of market volatilities on Harvest Fund and HUAQIN TECHNOLOGY 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 Harvest Fund with a short position of HUAQIN TECHNOLOGY. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and HUAQIN TECHNOLOGY.
Diversification Opportunities for Harvest Fund and HUAQIN TECHNOLOGY
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Harvest and HUAQIN is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and HUAQIN TECHNOLOGY LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUAQIN TECHNOLOGY LTD and Harvest Fund 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 Harvest Fund Management are associated (or correlated) with HUAQIN TECHNOLOGY. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HUAQIN TECHNOLOGY LTD has no effect on the direction of Harvest Fund i.e., Harvest Fund and HUAQIN TECHNOLOGY go up and down completely randomly.
Pair Corralation between Harvest Fund and HUAQIN TECHNOLOGY
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.38 times more return on investment than HUAQIN TECHNOLOGY. However, Harvest Fund Management is 2.65 times less risky than HUAQIN TECHNOLOGY. It trades about 0.31 of its potential returns per unit of risk. HUAQIN TECHNOLOGY LTD is currently generating about 0.11 per unit of risk. If you would invest 261.00 in Harvest Fund Management on October 14, 2024 and sell it today you would earn a total of 70.00 from holding Harvest Fund Management or generate 26.82% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Harvest Fund Management vs. HUAQIN TECHNOLOGY LTD
Performance |
Timeline |
Harvest Fund Management |
HUAQIN TECHNOLOGY LTD |
Harvest Fund and HUAQIN TECHNOLOGY Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Harvest Fund and HUAQIN TECHNOLOGY
The main advantage of trading using opposite Harvest Fund and HUAQIN TECHNOLOGY positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, HUAQIN TECHNOLOGY 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 HUAQIN TECHNOLOGY will offset losses from the drop in HUAQIN TECHNOLOGY's long position.Harvest Fund vs. Heilongjiang Transport Development | Harvest Fund vs. Techshine Electronics Co | Harvest Fund vs. Zhongshan Broad Ocean Motor | Harvest Fund vs. YiDong Electronics Technology |
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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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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