Correlation Between Xiangpiaopiao Food and Beijing Cisri
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By analyzing existing cross correlation between Xiangpiaopiao Food Co and Beijing Cisri Gaona, you can compare the effects of market volatilities on Xiangpiaopiao Food and Beijing Cisri 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 Xiangpiaopiao Food with a short position of Beijing Cisri. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xiangpiaopiao Food and Beijing Cisri.
Diversification Opportunities for Xiangpiaopiao Food and Beijing Cisri
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Xiangpiaopiao and Beijing is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Xiangpiaopiao Food Co and Beijing Cisri Gaona in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Cisri Gaona and Xiangpiaopiao Food 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 Xiangpiaopiao Food Co are associated (or correlated) with Beijing Cisri. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Cisri Gaona has no effect on the direction of Xiangpiaopiao Food i.e., Xiangpiaopiao Food and Beijing Cisri go up and down completely randomly.
Pair Corralation between Xiangpiaopiao Food and Beijing Cisri
Assuming the 90 days trading horizon Xiangpiaopiao Food Co is expected to under-perform the Beijing Cisri. In addition to that, Xiangpiaopiao Food is 1.7 times more volatile than Beijing Cisri Gaona. It trades about -0.08 of its total potential returns per unit of risk. Beijing Cisri Gaona is currently generating about 0.04 per unit of volatility. If you would invest 1,605 in Beijing Cisri Gaona on December 28, 2024 and sell it today you would earn a total of 46.00 from holding Beijing Cisri Gaona or generate 2.87% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 98.28% |
Values | Daily Returns |
Xiangpiaopiao Food Co vs. Beijing Cisri Gaona
Performance |
Timeline |
Xiangpiaopiao Food |
Beijing Cisri Gaona |
Xiangpiaopiao Food and Beijing Cisri Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Xiangpiaopiao Food and Beijing Cisri
The main advantage of trading using opposite Xiangpiaopiao Food and Beijing Cisri positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xiangpiaopiao Food position performs unexpectedly, Beijing Cisri 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 Beijing Cisri will offset losses from the drop in Beijing Cisri's long position.Xiangpiaopiao Food vs. Anhui Transport Consulting | Xiangpiaopiao Food vs. Zhengping RoadBridge Constr | Xiangpiaopiao Food vs. Hainan Haiqi Transportation | Xiangpiaopiao Food vs. TianJin 712 Communication |
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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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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