Correlation Between Xizi Clean and Beijing Sinnet
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By analyzing existing cross correlation between Xizi Clean Energy and Beijing Sinnet Technology, you can compare the effects of market volatilities on Xizi Clean and Beijing Sinnet 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 Xizi Clean with a short position of Beijing Sinnet. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xizi Clean and Beijing Sinnet.
Diversification Opportunities for Xizi Clean and Beijing Sinnet
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Xizi and Beijing is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Xizi Clean Energy and Beijing Sinnet Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Sinnet Technology and Xizi Clean 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 Xizi Clean Energy are associated (or correlated) with Beijing Sinnet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Sinnet Technology has no effect on the direction of Xizi Clean i.e., Xizi Clean and Beijing Sinnet go up and down completely randomly.
Pair Corralation between Xizi Clean and Beijing Sinnet
Assuming the 90 days trading horizon Xizi Clean Energy is expected to generate 1.58 times more return on investment than Beijing Sinnet. However, Xizi Clean is 1.58 times more volatile than Beijing Sinnet Technology. It trades about 0.04 of its potential returns per unit of risk. Beijing Sinnet Technology is currently generating about -0.08 per unit of risk. If you would invest 1,514 in Xizi Clean Energy on September 13, 2025 and sell it today you would earn a total of 79.00 from holding Xizi Clean Energy or generate 5.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.31% |
| Values | Daily Returns |
Xizi Clean Energy vs. Beijing Sinnet Technology
Performance |
| Timeline |
| Xizi Clean Energy |
| Beijing Sinnet Technology |
Xizi Clean and Beijing Sinnet Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xizi Clean and Beijing Sinnet
The main advantage of trading using opposite Xizi Clean and Beijing Sinnet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xizi Clean position performs unexpectedly, Beijing Sinnet 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 Beijing Sinnet will offset losses from the drop in Beijing Sinnet's long position.| Xizi Clean vs. Xiamen Bank Co | Xizi Clean vs. Chongqing Changan Automobile | Xizi Clean vs. Anhui Gujing Distillery | Xizi Clean vs. Hua Xia Bank |
| Beijing Sinnet vs. Bank of Communications | Beijing Sinnet vs. Fiberhome Telecommunication Technologies | Beijing Sinnet vs. Shenzhen Kexin Communication | Beijing Sinnet vs. Zhejiang JIULI Hi tech |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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