Correlation Between China Medical and Graham Holdings
Can any of the company-specific risk be diversified away by investing in both China Medical and Graham Holdings at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining China Medical and Graham Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between China Medical System and Graham Holdings Co, you can compare the effects of market volatilities on China Medical and Graham Holdings 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 China Medical with a short position of Graham Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Medical and Graham Holdings.
Diversification Opportunities for China Medical and Graham Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between China and Graham is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding China Medical System and Graham Holdings Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Graham Holdings and China Medical 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 China Medical System are associated (or correlated) with Graham Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Graham Holdings has no effect on the direction of China Medical i.e., China Medical and Graham Holdings go up and down completely randomly.
Pair Corralation between China Medical and Graham Holdings
If you would invest 139.00 in China Medical System on July 20, 2025 and sell it today you would earn a total of 4.00 from holding China Medical System or generate 2.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
China Medical System vs. Graham Holdings Co
Performance |
| Timeline |
| China Medical System |
| Graham Holdings |
China Medical and Graham Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Medical and Graham Holdings
The main advantage of trading using opposite China Medical and Graham Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Medical position performs unexpectedly, Graham Holdings 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 Graham Holdings will offset losses from the drop in Graham Holdings' long position.| China Medical vs. Japan Asia Investment | China Medical vs. Osisko Metals | China Medical vs. CORNISH METALS INC | China Medical vs. Diversified Healthcare Trust |
| Graham Holdings vs. China Datang | Graham Holdings vs. INFORMATION SVC GRP | Graham Holdings vs. Hyrican Informationssysteme Aktiengesellschaft | Graham Holdings vs. Nanjing Panda Electronics |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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