Correlation Between Gansu Huangtai and Xiangyang Automobile
Specify exactly 2 symbols:
By analyzing existing cross correlation between Gansu Huangtai Wine marketing and Xiangyang Automobile Bearing, you can compare the effects of market volatilities on Gansu Huangtai and Xiangyang Automobile 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 Gansu Huangtai with a short position of Xiangyang Automobile. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gansu Huangtai and Xiangyang Automobile.
Diversification Opportunities for Gansu Huangtai and Xiangyang Automobile
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Gansu and Xiangyang is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Gansu Huangtai Wine marketing and Xiangyang Automobile Bearing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiangyang Automobile and Gansu Huangtai 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 Gansu Huangtai Wine marketing are associated (or correlated) with Xiangyang Automobile. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiangyang Automobile has no effect on the direction of Gansu Huangtai i.e., Gansu Huangtai and Xiangyang Automobile go up and down completely randomly.
Pair Corralation between Gansu Huangtai and Xiangyang Automobile
Assuming the 90 days trading horizon Gansu Huangtai Wine marketing is expected to under-perform the Xiangyang Automobile. But the stock apears to be less risky and, when comparing its historical volatility, Gansu Huangtai Wine marketing is 1.45 times less risky than Xiangyang Automobile. The stock trades about -0.07 of its potential returns per unit of risk. The Xiangyang Automobile Bearing is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 1,371 in Xiangyang Automobile Bearing on October 6, 2025 and sell it today you would earn a total of 132.00 from holding Xiangyang Automobile Bearing or generate 9.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gansu Huangtai Wine marketing vs. Xiangyang Automobile Bearing
Performance |
| Timeline |
| Gansu Huangtai Wine |
| Xiangyang Automobile |
Gansu Huangtai and Xiangyang Automobile Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gansu Huangtai and Xiangyang Automobile
The main advantage of trading using opposite Gansu Huangtai and Xiangyang Automobile positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gansu Huangtai position performs unexpectedly, Xiangyang Automobile 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 Xiangyang Automobile will offset losses from the drop in Xiangyang Automobile's long position.| Gansu Huangtai vs. Bank of Communications | Gansu Huangtai vs. Industrial Bank Co | Gansu Huangtai vs. Agricultural Bank of | Gansu Huangtai vs. China Construction Bank |
| Xiangyang Automobile vs. Industrial and Commercial | Xiangyang Automobile vs. Agricultural Bank of | Xiangyang Automobile vs. China Construction Bank | Xiangyang Automobile 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities |