Correlation Between Zhejiang Merit and Zhejiang Semir
Specify exactly 2 symbols:
By analyzing existing cross correlation between Zhejiang Merit Interactive and Zhejiang Semir Garment, you can compare the effects of market volatilities on Zhejiang Merit and Zhejiang Semir 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 Zhejiang Merit with a short position of Zhejiang Semir. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zhejiang Merit and Zhejiang Semir.
Diversification Opportunities for Zhejiang Merit and Zhejiang Semir
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Zhejiang and Zhejiang is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Merit Interactive and Zhejiang Semir Garment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhejiang Semir Garment and Zhejiang Merit 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 Zhejiang Merit Interactive are associated (or correlated) with Zhejiang Semir. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhejiang Semir Garment has no effect on the direction of Zhejiang Merit i.e., Zhejiang Merit and Zhejiang Semir go up and down completely randomly.
Pair Corralation between Zhejiang Merit and Zhejiang Semir
Assuming the 90 days trading horizon Zhejiang Merit Interactive is expected to under-perform the Zhejiang Semir. In addition to that, Zhejiang Merit is 1.2 times more volatile than Zhejiang Semir Garment. It trades about -0.1 of its total potential returns per unit of risk. Zhejiang Semir Garment is currently generating about 0.08 per unit of volatility. If you would invest 543.00 in Zhejiang Semir Garment on September 5, 2025 and sell it today you would earn a total of 53.00 from holding Zhejiang Semir Garment or generate 9.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.31% |
| Values | Daily Returns |
Zhejiang Merit Interactive vs. Zhejiang Semir Garment
Performance |
| Timeline |
| Zhejiang Merit Inter |
| Zhejiang Semir Garment |
Zhejiang Merit and Zhejiang Semir Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zhejiang Merit and Zhejiang Semir
The main advantage of trading using opposite Zhejiang Merit and Zhejiang Semir positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zhejiang Merit position performs unexpectedly, Zhejiang Semir 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 Zhejiang Semir will offset losses from the drop in Zhejiang Semir's long position.| Zhejiang Merit vs. HaiXin Foods Co | Zhejiang Merit vs. Gansu Huangtai Wine marketing | Zhejiang Merit vs. Jiangxi Sunshine Dairy | Zhejiang Merit vs. Tonghua Grape Wine |
| Zhejiang Semir vs. Sharetronic Data Technology | Zhejiang Semir vs. Wuxi Xuelang Environmental | Zhejiang Semir vs. Baoshan Iron Steel | Zhejiang Semir vs. Changchun UP Optotech |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Other Complementary Tools
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk |