Correlation Between Guangzhou Zhujiang and Molson Coors
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By analyzing existing cross correlation between Guangzhou Zhujiang Brewery and Molson Coors Brewing, you can compare the effects of market volatilities on Guangzhou Zhujiang and Molson Coors 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 Guangzhou Zhujiang with a short position of Molson Coors. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangzhou Zhujiang and Molson Coors.
Diversification Opportunities for Guangzhou Zhujiang and Molson Coors
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Guangzhou and Molson is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Guangzhou Zhujiang Brewery and Molson Coors Brewing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Molson Coors Brewing and Guangzhou Zhujiang 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 Guangzhou Zhujiang Brewery are associated (or correlated) with Molson Coors. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Molson Coors Brewing has no effect on the direction of Guangzhou Zhujiang i.e., Guangzhou Zhujiang and Molson Coors go up and down completely randomly.
Pair Corralation between Guangzhou Zhujiang and Molson Coors
Assuming the 90 days trading horizon Guangzhou Zhujiang Brewery is expected to under-perform the Molson Coors. But the stock apears to be less risky and, when comparing its historical volatility, Guangzhou Zhujiang Brewery is 1.44 times less risky than Molson Coors. The stock trades about -0.12 of its potential returns per unit of risk. The Molson Coors Brewing is currently generating about -0.08 of returns per unit of risk over similar time horizon. If you would invest 5,106 in Molson Coors Brewing on August 19, 2025 and sell it today you would lose (462.00) from holding Molson Coors Brewing or give up 9.05% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 92.19% |
| Values | Daily Returns |
Guangzhou Zhujiang Brewery vs. Molson Coors Brewing
Performance |
| Timeline |
| Guangzhou Zhujiang |
| Molson Coors Brewing |
Guangzhou Zhujiang and Molson Coors Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangzhou Zhujiang and Molson Coors
The main advantage of trading using opposite Guangzhou Zhujiang and Molson Coors positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangzhou Zhujiang position performs unexpectedly, Molson Coors 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 Molson Coors will offset losses from the drop in Molson Coors' long position.| Guangzhou Zhujiang vs. Uroica Mining Safety | Guangzhou Zhujiang vs. Western Mining Co | Guangzhou Zhujiang vs. Anhui Huilong Agricultural | Guangzhou Zhujiang vs. Tianjin Silvery Dragon |
| Molson Coors vs. Pilgrims Pride Corp | Molson Coors vs. Smithfield Foods, Common | Molson Coors vs. Campbells Co | Molson Coors vs. ConAgra Foods |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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