Correlation Between Harvest Fund and Zoy Home
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By analyzing existing cross correlation between Harvest Fund Management and Zoy Home Furnishing, you can compare the effects of market volatilities on Harvest Fund and Zoy Home 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 Zoy Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Zoy Home.
Diversification Opportunities for Harvest Fund and Zoy Home
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Harvest and Zoy is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Zoy Home Furnishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zoy Home Furnishing 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 Zoy Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zoy Home Furnishing has no effect on the direction of Harvest Fund i.e., Harvest Fund and Zoy Home go up and down completely randomly.
Pair Corralation between Harvest Fund and Zoy Home
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.67 times more return on investment than Zoy Home. However, Harvest Fund Management is 1.49 times less risky than Zoy Home. It trades about 0.13 of its potential returns per unit of risk. Zoy Home Furnishing is currently generating about -0.06 per unit of risk. If you would invest 336.00 in Harvest Fund Management on November 29, 2024 and sell it today you would earn a total of 8.00 from holding Harvest Fund Management or generate 2.38% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Harvest Fund Management vs. Zoy Home Furnishing
Performance |
Timeline |
Harvest Fund Management |
Zoy Home Furnishing |
Harvest Fund and Zoy Home Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Harvest Fund and Zoy Home
The main advantage of trading using opposite Harvest Fund and Zoy Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Zoy Home 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 Zoy Home will offset losses from the drop in Zoy Home's long position.Harvest Fund vs. Digital China Information | ||
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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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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