Correlation Between Hunan TV and Pinlive Foods
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By analyzing existing cross correlation between Hunan TV Broadcast and Pinlive Foods Co, you can compare the effects of market volatilities on Hunan TV and Pinlive Foods 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 Hunan TV with a short position of Pinlive Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hunan TV and Pinlive Foods.
Diversification Opportunities for Hunan TV and Pinlive Foods
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Hunan and Pinlive is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding Hunan TV Broadcast and Pinlive Foods Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pinlive Foods and Hunan TV 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 Hunan TV Broadcast are associated (or correlated) with Pinlive Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pinlive Foods has no effect on the direction of Hunan TV i.e., Hunan TV and Pinlive Foods go up and down completely randomly.
Pair Corralation between Hunan TV and Pinlive Foods
Assuming the 90 days trading horizon Hunan TV Broadcast is expected to generate 0.82 times more return on investment than Pinlive Foods. However, Hunan TV Broadcast is 1.23 times less risky than Pinlive Foods. It trades about 0.02 of its potential returns per unit of risk. Pinlive Foods Co is currently generating about -0.07 per unit of risk. If you would invest 805.00 in Hunan TV Broadcast on August 25, 2025 and sell it today you would earn a total of 15.00 from holding Hunan TV Broadcast or generate 1.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hunan TV Broadcast vs. Pinlive Foods Co
Performance |
| Timeline |
| Hunan TV Broadcast |
| Pinlive Foods |
Hunan TV and Pinlive Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hunan TV and Pinlive Foods
The main advantage of trading using opposite Hunan TV and Pinlive Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hunan TV position performs unexpectedly, Pinlive Foods 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 Pinlive Foods will offset losses from the drop in Pinlive Foods' long position.| Hunan TV vs. Ming Yang Smart | Hunan TV vs. 159681 | Hunan TV vs. 159005 | Hunan TV vs. Loctek Ergonomic Technology |
| Pinlive Foods vs. Industrial and Commercial | Pinlive Foods vs. Agricultural Bank of | Pinlive Foods vs. China Construction Bank | Pinlive Foods vs. Bank of China |
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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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