Correlation Between Hangzhou Pinming and Postal Savings
Specify exactly 2 symbols:
By analyzing existing cross correlation between Hangzhou Pinming Software and Postal Savings Bank, you can compare the effects of market volatilities on Hangzhou Pinming 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 Hangzhou Pinming with a short position of Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hangzhou Pinming and Postal Savings.
Diversification Opportunities for Hangzhou Pinming and Postal Savings
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Hangzhou and Postal is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Hangzhou Pinming Software 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 Hangzhou Pinming 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 Hangzhou Pinming Software 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 Hangzhou Pinming i.e., Hangzhou Pinming and Postal Savings go up and down completely randomly.
Pair Corralation between Hangzhou Pinming and Postal Savings
Assuming the 90 days trading horizon Hangzhou Pinming Software is expected to under-perform the Postal Savings. In addition to that, Hangzhou Pinming is 1.86 times more volatile than Postal Savings Bank. It trades about -0.08 of its total potential returns per unit of risk. Postal Savings Bank is currently generating about 0.26 per unit of volatility. If you would invest 524.00 in Postal Savings Bank on September 26, 2024 and sell it today you would earn a total of 39.00 from holding Postal Savings Bank or generate 7.44% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Hangzhou Pinming Software vs. Postal Savings Bank
Performance |
Timeline |
Hangzhou Pinming Software |
Postal Savings Bank |
Hangzhou Pinming and Postal Savings Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Hangzhou Pinming and Postal Savings
The main advantage of trading using opposite Hangzhou Pinming and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hangzhou Pinming 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.Hangzhou Pinming vs. Industrial and Commercial | Hangzhou Pinming vs. Agricultural Bank of | Hangzhou Pinming vs. China Construction Bank | Hangzhou Pinming vs. Bank of China |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |