Correlation Between Guinness Atkinson and Oshidori International
Can any of the company-specific risk be diversified away by investing in both Guinness Atkinson and Oshidori International at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Guinness Atkinson and Oshidori International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Guinness Atkinson China and Oshidori International Holdings, you can compare the effects of market volatilities on Guinness Atkinson and Oshidori International 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 Guinness Atkinson with a short position of Oshidori International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guinness Atkinson and Oshidori International.
Diversification Opportunities for Guinness Atkinson and Oshidori International
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Guinness and Oshidori is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Guinness Atkinson China and Oshidori International Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oshidori International and Guinness Atkinson 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 Guinness Atkinson China are associated (or correlated) with Oshidori International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oshidori International has no effect on the direction of Guinness Atkinson i.e., Guinness Atkinson and Oshidori International go up and down completely randomly.
Pair Corralation between Guinness Atkinson and Oshidori International
If you would invest 1,271 in Guinness Atkinson China on December 30, 2024 and sell it today you would earn a total of 137.00 from holding Guinness Atkinson China or generate 10.78% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Guinness Atkinson China vs. Oshidori International Holding
Performance |
Timeline |
Guinness Atkinson China |
Oshidori International |
Guinness Atkinson and Oshidori International Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Guinness Atkinson and Oshidori International
The main advantage of trading using opposite Guinness Atkinson and Oshidori International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guinness Atkinson position performs unexpectedly, Oshidori International 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 Oshidori International will offset losses from the drop in Oshidori International's long position.Guinness Atkinson vs. Guinness Atkinson Asia | Guinness Atkinson vs. Matthews China Fund | Guinness Atkinson vs. Columbia Greater China | Guinness Atkinson vs. Eaton Vance Greater |
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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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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