Correlation Between HaiXin Foods and Allwin Telecommunicatio
Specify exactly 2 symbols:
By analyzing existing cross correlation between HaiXin Foods Co and Allwin Telecommunication Co, you can compare the effects of market volatilities on HaiXin Foods and Allwin Telecommunicatio 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 HaiXin Foods with a short position of Allwin Telecommunicatio. Check out your portfolio center. Please also check ongoing floating volatility patterns of HaiXin Foods and Allwin Telecommunicatio.
Diversification Opportunities for HaiXin Foods and Allwin Telecommunicatio
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between HaiXin and Allwin is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding HaiXin Foods Co and Allwin Telecommunication Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Allwin Telecommunicatio and HaiXin Foods 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 HaiXin Foods Co are associated (or correlated) with Allwin Telecommunicatio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Allwin Telecommunicatio has no effect on the direction of HaiXin Foods i.e., HaiXin Foods and Allwin Telecommunicatio go up and down completely randomly.
Pair Corralation between HaiXin Foods and Allwin Telecommunicatio
Assuming the 90 days trading horizon HaiXin Foods Co is expected to generate 1.14 times more return on investment than Allwin Telecommunicatio. However, HaiXin Foods is 1.14 times more volatile than Allwin Telecommunication Co. It trades about 0.34 of its potential returns per unit of risk. Allwin Telecommunication Co is currently generating about -0.2 per unit of risk. If you would invest 430.00 in HaiXin Foods Co on September 3, 2025 and sell it today you would earn a total of 446.00 from holding HaiXin Foods Co or generate 103.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
HaiXin Foods Co vs. Allwin Telecommunication Co
Performance |
| Timeline |
| HaiXin Foods |
| Allwin Telecommunicatio |
HaiXin Foods and Allwin Telecommunicatio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HaiXin Foods and Allwin Telecommunicatio
The main advantage of trading using opposite HaiXin Foods and Allwin Telecommunicatio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HaiXin Foods position performs unexpectedly, Allwin Telecommunicatio 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 Allwin Telecommunicatio will offset losses from the drop in Allwin Telecommunicatio's long position.| HaiXin Foods vs. Yunnan Jianzhijia Health Chain | HaiXin Foods vs. Hainan Mining Co | HaiXin Foods vs. Xinjiang Baodi Mining | HaiXin Foods vs. Xizi Clean Energy |
| Allwin Telecommunicatio vs. Shenwu Energy Saving | Allwin Telecommunicatio vs. Beijing Yanjing Brewery | Allwin Telecommunicatio vs. GRG Banking Equipment | Allwin Telecommunicatio vs. Ping An Insurance |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings |