Correlation Between Haima Automobile and GM
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By analyzing existing cross correlation between Haima Automobile Group and General Motors, you can compare the effects of market volatilities on Haima Automobile and GM 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 Haima Automobile with a short position of GM. Check out your portfolio center. Please also check ongoing floating volatility patterns of Haima Automobile and GM.
Diversification Opportunities for Haima Automobile and GM
0.78 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Haima and GM is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding Haima Automobile Group and General Motors in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on General Motors and Haima Automobile 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 Haima Automobile Group are associated (or correlated) with GM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of General Motors has no effect on the direction of Haima Automobile i.e., Haima Automobile and GM go up and down completely randomly.
Pair Corralation between Haima Automobile and GM
Assuming the 90 days trading horizon Haima Automobile Group is expected to generate 2.34 times more return on investment than GM. However, Haima Automobile is 2.34 times more volatile than General Motors. It trades about 0.25 of its potential returns per unit of risk. General Motors is currently generating about 0.18 per unit of risk. If you would invest 485.00 in Haima Automobile Group on September 4, 2025 and sell it today you would earn a total of 498.00 from holding Haima Automobile Group or generate 102.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 90.63% |
| Values | Daily Returns |
Haima Automobile Group vs. General Motors
Performance |
| Timeline |
| Haima Automobile |
| General Motors |
Haima Automobile and GM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Haima Automobile and GM
The main advantage of trading using opposite Haima Automobile and GM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Haima Automobile position performs unexpectedly, GM 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 GM will offset losses from the drop in GM's long position.| Haima Automobile vs. Shenzhen Noposion Agrochemicals | Haima Automobile vs. Eastern Communications Co | Haima Automobile vs. Guangzhou Dongfang Hotel | Haima Automobile vs. Yingde Greatchem Chemicals |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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