Correlation Between Shenzhen Centralcon and China Securities
Specify exactly 2 symbols:
By analyzing existing cross correlation between Shenzhen Centralcon Investment and China Securities 800, you can compare the effects of market volatilities on Shenzhen Centralcon and China Securities 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 Shenzhen Centralcon with a short position of China Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Centralcon and China Securities.
Diversification Opportunities for Shenzhen Centralcon and China Securities
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Shenzhen and China is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Centralcon Investment and China Securities 800 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Securities 800 and Shenzhen Centralcon 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 Shenzhen Centralcon Investment are associated (or correlated) with China Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Securities 800 has no effect on the direction of Shenzhen Centralcon i.e., Shenzhen Centralcon and China Securities go up and down completely randomly.
Pair Corralation between Shenzhen Centralcon and China Securities
Assuming the 90 days trading horizon Shenzhen Centralcon Investment is expected to generate 2.9 times more return on investment than China Securities. However, Shenzhen Centralcon is 2.9 times more volatile than China Securities 800. It trades about 0.1 of its potential returns per unit of risk. China Securities 800 is currently generating about 0.13 per unit of risk. If you would invest 506.00 in Shenzhen Centralcon Investment on September 24, 2024 and sell it today you would earn a total of 24.00 from holding Shenzhen Centralcon Investment or generate 4.74% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Shenzhen Centralcon Investment vs. China Securities 800
Performance |
Timeline |
Shenzhen Centralcon and China Securities Volatility Contrast
Predicted Return Density |
Returns |
Shenzhen Centralcon Investment
Pair trading matchups for Shenzhen Centralcon
China Securities 800
Pair trading matchups for China Securities
Pair Trading with Shenzhen Centralcon and China Securities
The main advantage of trading using opposite Shenzhen Centralcon and China Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Centralcon position performs unexpectedly, China Securities 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 China Securities will offset losses from the drop in China Securities' long position.Shenzhen Centralcon vs. Xinya Electronic Co | Shenzhen Centralcon vs. Shenzhen Clou Electronics | Shenzhen Centralcon vs. Sanbo Hospital Management | Shenzhen Centralcon vs. Integrated Electronic Systems |
China Securities vs. Sinomach General Machinery | China Securities vs. Shenzhen Centralcon Investment | China Securities vs. Guangdong Jinming Machinery | China Securities vs. Jointo Energy Investment |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Other Complementary Tools
ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
Content Syndication Quickly integrate customizable finance content to your own investment portal | |
Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |