Correlation Between Sunny Loan and Cultural Investment
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By analyzing existing cross correlation between Sunny Loan Top and Cultural Investment Holdings, you can compare the effects of market volatilities on Sunny Loan and Cultural Investment 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 Sunny Loan with a short position of Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sunny Loan and Cultural Investment.
Diversification Opportunities for Sunny Loan and Cultural Investment
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sunny and Cultural is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Sunny Loan Top and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural Investment and Sunny Loan 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 Sunny Loan Top are associated (or correlated) with Cultural Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cultural Investment has no effect on the direction of Sunny Loan i.e., Sunny Loan and Cultural Investment go up and down completely randomly.
Pair Corralation between Sunny Loan and Cultural Investment
Assuming the 90 days trading horizon Sunny Loan Top is expected to under-perform the Cultural Investment. In addition to that, Sunny Loan is 1.78 times more volatile than Cultural Investment Holdings. It trades about -0.05 of its total potential returns per unit of risk. Cultural Investment Holdings is currently generating about -0.01 per unit of volatility. If you would invest 220.00 in Cultural Investment Holdings on December 26, 2024 and sell it today you would lose (5.00) from holding Cultural Investment Holdings or give up 2.27% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Sunny Loan Top vs. Cultural Investment Holdings
Performance |
Timeline |
Sunny Loan Top |
Cultural Investment |
Sunny Loan and Cultural Investment Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Sunny Loan and Cultural Investment
The main advantage of trading using opposite Sunny Loan and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sunny Loan position performs unexpectedly, Cultural Investment 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 Cultural Investment will offset losses from the drop in Cultural Investment's long position.Sunny Loan vs. Jinyu Bio Technology Co | Sunny Loan vs. Tianjin Ruixin Technology | Sunny Loan vs. Northking Information Technology | Sunny Loan vs. Maxvision Technology Corp |
Cultural Investment vs. Muyuan Foodstuff Co | Cultural Investment vs. Panda Dairy Corp | Cultural Investment vs. China Reform Health | Cultural Investment vs. Andon Health Co |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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