Correlation Between Beijing HuaYuanYiTong and Olympic Circuit
Specify exactly 2 symbols:
By analyzing existing cross correlation between Beijing HuaYuanYiTong Thermal and Olympic Circuit Technology, you can compare the effects of market volatilities on Beijing HuaYuanYiTong and Olympic Circuit 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 Beijing HuaYuanYiTong with a short position of Olympic Circuit. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing HuaYuanYiTong and Olympic Circuit.
Diversification Opportunities for Beijing HuaYuanYiTong and Olympic Circuit
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Beijing and Olympic is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Beijing HuaYuanYiTong Thermal and Olympic Circuit Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Olympic Circuit Tech and Beijing HuaYuanYiTong 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 Beijing HuaYuanYiTong Thermal are associated (or correlated) with Olympic Circuit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Olympic Circuit Tech has no effect on the direction of Beijing HuaYuanYiTong i.e., Beijing HuaYuanYiTong and Olympic Circuit go up and down completely randomly.
Pair Corralation between Beijing HuaYuanYiTong and Olympic Circuit
Assuming the 90 days trading horizon Beijing HuaYuanYiTong Thermal is expected to generate 0.88 times more return on investment than Olympic Circuit. However, Beijing HuaYuanYiTong Thermal is 1.13 times less risky than Olympic Circuit. It trades about 0.07 of its potential returns per unit of risk. Olympic Circuit Technology is currently generating about 0.0 per unit of risk. If you would invest 1,125 in Beijing HuaYuanYiTong Thermal on September 11, 2025 and sell it today you would earn a total of 121.00 from holding Beijing HuaYuanYiTong Thermal or generate 10.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing HuaYuanYiTong Thermal vs. Olympic Circuit Technology
Performance |
| Timeline |
| Beijing HuaYuanYiTong |
| Olympic Circuit Tech |
Beijing HuaYuanYiTong and Olympic Circuit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing HuaYuanYiTong and Olympic Circuit
The main advantage of trading using opposite Beijing HuaYuanYiTong and Olympic Circuit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing HuaYuanYiTong position performs unexpectedly, Olympic Circuit 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 Olympic Circuit will offset losses from the drop in Olympic Circuit's long position.| Beijing HuaYuanYiTong vs. Eastern Air Logistics | Beijing HuaYuanYiTong vs. StarPower Semiconductor | Beijing HuaYuanYiTong vs. Shandong Longquan Pipeline | Beijing HuaYuanYiTong vs. Union Semiconductor Co |
| Olympic Circuit vs. Industrial and Commercial | Olympic Circuit vs. Agricultural Bank of | Olympic Circuit vs. China Construction Bank | Olympic Circuit vs. Bank of China |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Other Complementary Tools
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |