Correlation Between Tus Sound and Chengtun Mining
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By analyzing existing cross correlation between Tus Sound Environmental Resources and Chengtun Mining Group, you can compare the effects of market volatilities on Tus Sound and Chengtun Mining 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 Tus Sound with a short position of Chengtun Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tus Sound and Chengtun Mining.
Diversification Opportunities for Tus Sound and Chengtun Mining
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Tus and Chengtun is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Tus Sound Environmental Resour and Chengtun Mining Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chengtun Mining Group and Tus Sound 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 Tus Sound Environmental Resources are associated (or correlated) with Chengtun Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chengtun Mining Group has no effect on the direction of Tus Sound i.e., Tus Sound and Chengtun Mining go up and down completely randomly.
Pair Corralation between Tus Sound and Chengtun Mining
Assuming the 90 days trading horizon Tus Sound is expected to generate 3.16 times less return on investment than Chengtun Mining. But when comparing it to its historical volatility, Tus Sound Environmental Resources is 1.14 times less risky than Chengtun Mining. It trades about 0.05 of its potential returns per unit of risk. Chengtun Mining Group is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 919.00 in Chengtun Mining Group on August 30, 2025 and sell it today you would earn a total of 315.00 from holding Chengtun Mining Group or generate 34.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.31% |
| Values | Daily Returns |
Tus Sound Environmental Resour vs. Chengtun Mining Group
Performance |
| Timeline |
| Tus Sound Environmental |
| Chengtun Mining Group |
Tus Sound and Chengtun Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tus Sound and Chengtun Mining
The main advantage of trading using opposite Tus Sound and Chengtun Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tus Sound position performs unexpectedly, Chengtun Mining 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 Chengtun Mining will offset losses from the drop in Chengtun Mining's long position.| Tus Sound vs. Vohringer Home Technology | Tus Sound vs. Ingenic Semiconductor | Tus Sound vs. Bus Online Co | Tus Sound vs. Jason Furniture |
| Chengtun Mining vs. Pengxin International Mining | Chengtun Mining vs. Wuxi Xuelang Environmental | Chengtun Mining vs. Guolin Environmental Tech | Chengtun Mining vs. Zhengzhou Coal Mining |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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