Correlation Between Shenzhen MTC and Capitalonline Data
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By analyzing existing cross correlation between Shenzhen MTC Co and Capitalonline Data Service, you can compare the effects of market volatilities on Shenzhen MTC and Capitalonline Data 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 Shenzhen MTC with a short position of Capitalonline Data. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen MTC and Capitalonline Data.
Diversification Opportunities for Shenzhen MTC and Capitalonline Data
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Shenzhen and Capitalonline is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen MTC Co and Capitalonline Data Service in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Capitalonline Data and Shenzhen MTC 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 Shenzhen MTC Co are associated (or correlated) with Capitalonline Data. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Capitalonline Data has no effect on the direction of Shenzhen MTC i.e., Shenzhen MTC and Capitalonline Data go up and down completely randomly.
Pair Corralation between Shenzhen MTC and Capitalonline Data
Assuming the 90 days trading horizon Shenzhen MTC Co is expected to generate 0.88 times more return on investment than Capitalonline Data. However, Shenzhen MTC Co is 1.13 times less risky than Capitalonline Data. It trades about 0.19 of its potential returns per unit of risk. Capitalonline Data Service is currently generating about 0.06 per unit of risk. If you would invest 458.00 in Shenzhen MTC Co on August 5, 2025 and sell it today you would earn a total of 157.00 from holding Shenzhen MTC Co or generate 34.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen MTC Co vs. Capitalonline Data Service
Performance |
| Timeline |
| Shenzhen MTC |
| Capitalonline Data |
Shenzhen MTC and Capitalonline Data Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen MTC and Capitalonline Data
The main advantage of trading using opposite Shenzhen MTC and Capitalonline Data positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen MTC position performs unexpectedly, Capitalonline Data 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 Capitalonline Data will offset losses from the drop in Capitalonline Data's long position.| Shenzhen MTC vs. Citic Guoan Wine | Shenzhen MTC vs. Ningbo GQY Video | Shenzhen MTC vs. China Reform Health | Shenzhen MTC vs. Porton Fine Chemicals |
| Capitalonline Data vs. China Life Insurance | Capitalonline Data vs. Asia Potash International | Capitalonline Data vs. Vanfund Urban Investment | Capitalonline Data vs. Kunwu Jiuding Investment |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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