Correlation Between China Clean and GENERAL
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By analyzing existing cross correlation between China Clean Energy and GENERAL ELEC CAP, you can compare the effects of market volatilities on China Clean and GENERAL 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 Clean with a short position of GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Clean and GENERAL.
Diversification Opportunities for China Clean and GENERAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between China and GENERAL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding China Clean Energy and GENERAL ELEC CAP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GENERAL ELEC CAP and China Clean 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 Clean Energy are associated (or correlated) with GENERAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GENERAL ELEC CAP has no effect on the direction of China Clean i.e., China Clean and GENERAL go up and down completely randomly.
Pair Corralation between China Clean and GENERAL
If you would invest 0.01 in China Clean Energy on September 13, 2024 and sell it today you would earn a total of 0.00 from holding China Clean Energy or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 18.75% |
Values | Daily Returns |
China Clean Energy vs. GENERAL ELEC CAP
Performance |
Timeline |
China Clean Energy |
GENERAL ELEC CAP |
China Clean and GENERAL Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with China Clean and GENERAL
The main advantage of trading using opposite China Clean and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Clean position performs unexpectedly, GENERAL 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 GENERAL will offset losses from the drop in GENERAL's long position.China Clean vs. Chemours Co | China Clean vs. International Flavors Fragrances | China Clean vs. Air Products and | China Clean vs. PPG Industries |
GENERAL vs. Kinetik Holdings | GENERAL vs. BW Offshore Limited | GENERAL vs. Antero Midstream Partners | GENERAL vs. Vistra Energy Corp |
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.
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