Correlation Between Harbin Hatou and Postal Savings
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By analyzing existing cross correlation between Harbin Hatou Investment and Postal Savings Bank, you can compare the effects of market volatilities on Harbin Hatou 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 Harbin Hatou with a short position of Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harbin Hatou and Postal Savings.
Diversification Opportunities for Harbin Hatou and Postal Savings
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Harbin and Postal is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Harbin Hatou Investment 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 Harbin Hatou 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 Harbin Hatou Investment 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 Harbin Hatou i.e., Harbin Hatou and Postal Savings go up and down completely randomly.
Pair Corralation between Harbin Hatou and Postal Savings
Assuming the 90 days trading horizon Harbin Hatou Investment is expected to generate 2.67 times more return on investment than Postal Savings. However, Harbin Hatou is 2.67 times more volatile than Postal Savings Bank. It trades about 0.22 of its potential returns per unit of risk. Postal Savings Bank is currently generating about 0.26 per unit of risk. If you would invest 648.00 in Harbin Hatou Investment on September 26, 2024 and sell it today you would earn a total of 107.00 from holding Harbin Hatou Investment or generate 16.51% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Harbin Hatou Investment vs. Postal Savings Bank
Performance |
Timeline |
Harbin Hatou Investment |
Postal Savings Bank |
Harbin Hatou and Postal Savings Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Harbin Hatou and Postal Savings
The main advantage of trading using opposite Harbin Hatou and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harbin Hatou 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.Harbin Hatou vs. Guilin Seamild Foods | Harbin Hatou vs. Eastroc Beverage Group | Harbin Hatou vs. Tianshan Aluminum Group | Harbin Hatou vs. Tongling Nonferrous Metals |
Postal Savings vs. BYD Co Ltd | Postal Savings vs. China Mobile Limited | Postal Savings vs. Agricultural Bank of | Postal Savings vs. Industrial and Commercial |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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