Correlation Between Inner Mongolia and Shanghai Rongtai
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By analyzing existing cross correlation between Inner Mongolia Yuan and Shanghai Rongtai Health, you can compare the effects of market volatilities on Inner Mongolia and Shanghai Rongtai 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 Inner Mongolia with a short position of Shanghai Rongtai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inner Mongolia and Shanghai Rongtai.
Diversification Opportunities for Inner Mongolia and Shanghai Rongtai
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Inner and Shanghai is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Inner Mongolia Yuan and Shanghai Rongtai Health in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Rongtai Health and Inner Mongolia 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 Inner Mongolia Yuan are associated (or correlated) with Shanghai Rongtai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Rongtai Health has no effect on the direction of Inner Mongolia i.e., Inner Mongolia and Shanghai Rongtai go up and down completely randomly.
Pair Corralation between Inner Mongolia and Shanghai Rongtai
If you would invest 1,169 in Shanghai Rongtai Health on September 9, 2024 and sell it today you would earn a total of 325.00 from holding Shanghai Rongtai Health or generate 27.8% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Inner Mongolia Yuan vs. Shanghai Rongtai Health
Performance |
Timeline |
Inner Mongolia Yuan |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
Shanghai Rongtai Health |
Inner Mongolia and Shanghai Rongtai Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Inner Mongolia and Shanghai Rongtai
The main advantage of trading using opposite Inner Mongolia and Shanghai Rongtai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inner Mongolia position performs unexpectedly, Shanghai Rongtai 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 Shanghai Rongtai will offset losses from the drop in Shanghai Rongtai's long position.Inner Mongolia vs. Northern United Publishing | Inner Mongolia vs. Jiajia Food Group | Inner Mongolia vs. Namchow Food Group | Inner Mongolia vs. Guangzhou Seagull Kitchen |
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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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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