Correlation Between Shandong and Huawen Media
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By analyzing existing cross correlation between Shandong Hi Speed RoadBridge and Huawen Media Investment, you can compare the effects of market volatilities on Shandong and Huawen Media 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 Shandong with a short position of Huawen Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shandong and Huawen Media.
Diversification Opportunities for Shandong and Huawen Media
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Shandong and Huawen is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Shandong Hi Speed RoadBridge and Huawen Media Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huawen Media Investment and Shandong 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 Shandong Hi Speed RoadBridge are associated (or correlated) with Huawen Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huawen Media Investment has no effect on the direction of Shandong i.e., Shandong and Huawen Media go up and down completely randomly.
Pair Corralation between Shandong and Huawen Media
Assuming the 90 days trading horizon Shandong Hi Speed RoadBridge is expected to under-perform the Huawen Media. But the stock apears to be less risky and, when comparing its historical volatility, Shandong Hi Speed RoadBridge is 1.91 times less risky than Huawen Media. The stock trades about 0.0 of its potential returns per unit of risk. The Huawen Media Investment is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 259.00 in Huawen Media Investment on August 29, 2025 and sell it today you would earn a total of 32.00 from holding Huawen Media Investment or generate 12.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shandong Hi Speed RoadBridge vs. Huawen Media Investment
Performance |
| Timeline |
| Shandong Hi Speed |
| Huawen Media Investment |
Shandong and Huawen Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shandong and Huawen Media
The main advantage of trading using opposite Shandong and Huawen Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shandong position performs unexpectedly, Huawen Media 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 Huawen Media will offset losses from the drop in Huawen Media's long position.| Shandong vs. Xinjiang Communications Construction | Shandong vs. Yindu Kitchen Equipment | Shandong vs. Beijing Jiaman Dress | Shandong vs. Masterwork Machinery |
| Huawen Media vs. Ming Yang Smart | Huawen Media vs. 159681 | Huawen Media vs. 159005 | Huawen Media vs. Loctek Ergonomic Technology |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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