Correlation Between Guangdong Tonze and Bohai Leasing
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By analyzing existing cross correlation between Guangdong Tonze Electric and Bohai Leasing Co, you can compare the effects of market volatilities on Guangdong Tonze and Bohai Leasing 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 Guangdong Tonze with a short position of Bohai Leasing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangdong Tonze and Bohai Leasing.
Diversification Opportunities for Guangdong Tonze and Bohai Leasing
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Guangdong and Bohai is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Tonze Electric and Bohai Leasing Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bohai Leasing and Guangdong Tonze 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 Guangdong Tonze Electric are associated (or correlated) with Bohai Leasing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bohai Leasing has no effect on the direction of Guangdong Tonze i.e., Guangdong Tonze and Bohai Leasing go up and down completely randomly.
Pair Corralation between Guangdong Tonze and Bohai Leasing
Assuming the 90 days trading horizon Guangdong Tonze Electric is expected to generate 3.75 times more return on investment than Bohai Leasing. However, Guangdong Tonze is 3.75 times more volatile than Bohai Leasing Co. It trades about 0.28 of its potential returns per unit of risk. Bohai Leasing Co is currently generating about 0.07 per unit of risk. If you would invest 1,528 in Guangdong Tonze Electric on September 6, 2025 and sell it today you would earn a total of 2,183 from holding Guangdong Tonze Electric or generate 142.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 98.31% |
| Values | Daily Returns |
Guangdong Tonze Electric vs. Bohai Leasing Co
Performance |
| Timeline |
| Guangdong Tonze Electric |
| Bohai Leasing |
Guangdong Tonze and Bohai Leasing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangdong Tonze and Bohai Leasing
The main advantage of trading using opposite Guangdong Tonze and Bohai Leasing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangdong Tonze position performs unexpectedly, Bohai Leasing 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 Bohai Leasing will offset losses from the drop in Bohai Leasing's long position.| Guangdong Tonze vs. Kweichow Moutai Co | Guangdong Tonze vs. G bits Network Technology | Guangdong Tonze vs. Contemporary Amperex Technology | Guangdong Tonze vs. New China Life |
| Bohai Leasing vs. PKU HealthCare Corp | Bohai Leasing vs. Zhongfu Information | Bohai Leasing vs. Lotus Health Group | Bohai Leasing vs. By health |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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