Correlation Between Beijing Sanyuan and Time Publishing
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By analyzing existing cross correlation between Beijing Sanyuan Foods and Time Publishing and, you can compare the effects of market volatilities on Beijing Sanyuan and Time Publishing 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 Beijing Sanyuan with a short position of Time Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Sanyuan and Time Publishing.
Diversification Opportunities for Beijing Sanyuan and Time Publishing
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Beijing and Time is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Sanyuan Foods and Time Publishing and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Time Publishing and Beijing Sanyuan 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 Beijing Sanyuan Foods are associated (or correlated) with Time Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Time Publishing has no effect on the direction of Beijing Sanyuan i.e., Beijing Sanyuan and Time Publishing go up and down completely randomly.
Pair Corralation between Beijing Sanyuan and Time Publishing
Assuming the 90 days trading horizon Beijing Sanyuan Foods is expected to generate 1.72 times more return on investment than Time Publishing. However, Beijing Sanyuan is 1.72 times more volatile than Time Publishing and. It trades about 0.11 of its potential returns per unit of risk. Time Publishing and is currently generating about 0.15 per unit of risk. If you would invest 428.00 in Beijing Sanyuan Foods on September 26, 2024 and sell it today you would earn a total of 30.00 from holding Beijing Sanyuan Foods or generate 7.01% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Beijing Sanyuan Foods vs. Time Publishing and
Performance |
Timeline |
Beijing Sanyuan Foods |
Time Publishing |
Beijing Sanyuan and Time Publishing Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Beijing Sanyuan and Time Publishing
The main advantage of trading using opposite Beijing Sanyuan and Time Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Sanyuan position performs unexpectedly, Time Publishing 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 Time Publishing will offset losses from the drop in Time Publishing's long position.Beijing Sanyuan vs. Ming Yang Smart | Beijing Sanyuan vs. 159681 | Beijing Sanyuan vs. 159005 | Beijing Sanyuan vs. Loctek Ergonomic 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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