Correlation Between Xinxiang Chemical and Suntar Environmental
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By analyzing existing cross correlation between Xinxiang Chemical Fiber and Suntar Environmental Technology, you can compare the effects of market volatilities on Xinxiang Chemical and Suntar Environmental 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 Xinxiang Chemical with a short position of Suntar Environmental. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xinxiang Chemical and Suntar Environmental.
Diversification Opportunities for Xinxiang Chemical and Suntar Environmental
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Xinxiang and Suntar is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Xinxiang Chemical Fiber and Suntar Environmental Technolog in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suntar Environmental and Xinxiang Chemical 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 Xinxiang Chemical Fiber are associated (or correlated) with Suntar Environmental. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suntar Environmental has no effect on the direction of Xinxiang Chemical i.e., Xinxiang Chemical and Suntar Environmental go up and down completely randomly.
Pair Corralation between Xinxiang Chemical and Suntar Environmental
Assuming the 90 days trading horizon Xinxiang Chemical Fiber is expected to generate 1.85 times more return on investment than Suntar Environmental. However, Xinxiang Chemical is 1.85 times more volatile than Suntar Environmental Technology. It trades about 0.34 of its potential returns per unit of risk. Suntar Environmental Technology is currently generating about 0.08 per unit of risk. If you would invest 436.00 in Xinxiang Chemical Fiber on August 14, 2025 and sell it today you would earn a total of 99.00 from holding Xinxiang Chemical Fiber or generate 22.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xinxiang Chemical Fiber vs. Suntar Environmental Technolog
Performance |
| Timeline |
| Xinxiang Chemical Fiber |
| Suntar Environmental |
Xinxiang Chemical and Suntar Environmental Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xinxiang Chemical and Suntar Environmental
The main advantage of trading using opposite Xinxiang Chemical and Suntar Environmental positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xinxiang Chemical position performs unexpectedly, Suntar Environmental 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 Suntar Environmental will offset losses from the drop in Suntar Environmental's long position.| Xinxiang Chemical vs. Zijin Mining Group | Xinxiang Chemical vs. Wanhua Chemical Group | Xinxiang Chemical vs. Baoshan Iron Steel | Xinxiang Chemical vs. Shandong Gold Mining |
| Suntar Environmental vs. Vanfund Urban Investment | Suntar Environmental vs. Shanghai Sanyou Medical | Suntar Environmental vs. APT Medical | Suntar Environmental vs. Allgens Medical 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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