Correlation Between China Securities and Grandblue Environment
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By analyzing existing cross correlation between China Securities 800 and Grandblue Environment Co, you can compare the effects of market volatilities on China Securities and Grandblue Environment 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 China Securities with a short position of Grandblue Environment. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Grandblue Environment.
Diversification Opportunities for China Securities and Grandblue Environment
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between China and Grandblue is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Grandblue Environment Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grandblue Environment and China Securities 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 China Securities 800 are associated (or correlated) with Grandblue Environment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grandblue Environment has no effect on the direction of China Securities i.e., China Securities and Grandblue Environment go up and down completely randomly.
Pair Corralation between China Securities and Grandblue Environment
Assuming the 90 days trading horizon China Securities 800 is expected to generate 1.23 times more return on investment than Grandblue Environment. However, China Securities is 1.23 times more volatile than Grandblue Environment Co. It trades about 0.13 of its potential returns per unit of risk. Grandblue Environment Co is currently generating about 0.15 per unit of risk. If you would invest 361,256 in China Securities 800 on September 25, 2024 and sell it today you would earn a total of 63,015 from holding China Securities 800 or generate 17.44% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 98.33% |
Values | Daily Returns |
China Securities 800 vs. Grandblue Environment Co
Performance |
Timeline |
China Securities and Grandblue Environment Volatility Contrast
Predicted Return Density |
Returns |
China Securities 800
Pair trading matchups for China Securities
Grandblue Environment Co
Pair trading matchups for Grandblue Environment
Pair Trading with China Securities and Grandblue Environment
The main advantage of trading using opposite China Securities and Grandblue Environment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Grandblue Environment 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 Grandblue Environment will offset losses from the drop in Grandblue Environment's long position.China Securities vs. Liuzhou Chemical Industry | China Securities vs. Guangzhou Jointas Chemical | China Securities vs. Shenzhen Noposion Agrochemicals | China Securities vs. Liaoning Dingjide Petrochemical |
Grandblue Environment vs. Jiangsu Yanghe Brewery | Grandblue Environment vs. JuneYao Dairy Co | Grandblue Environment vs. Zhengzhou Qianweiyangchu Food | Grandblue Environment vs. Great Sun Foods Co |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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