Correlation Between Shanghai Broadband and Anhui Jiuhuashan
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By analyzing existing cross correlation between Shanghai Broadband Technology and Anhui Jiuhuashan Tourism, you can compare the effects of market volatilities on Shanghai Broadband and Anhui Jiuhuashan 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 Shanghai Broadband with a short position of Anhui Jiuhuashan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shanghai Broadband and Anhui Jiuhuashan.
Diversification Opportunities for Shanghai Broadband and Anhui Jiuhuashan
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Shanghai and Anhui is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Broadband Technology and Anhui Jiuhuashan Tourism in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Jiuhuashan Tourism and Shanghai Broadband 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 Shanghai Broadband Technology are associated (or correlated) with Anhui Jiuhuashan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Jiuhuashan Tourism has no effect on the direction of Shanghai Broadband i.e., Shanghai Broadband and Anhui Jiuhuashan go up and down completely randomly.
Pair Corralation between Shanghai Broadband and Anhui Jiuhuashan
Assuming the 90 days trading horizon Shanghai Broadband Technology is expected to generate 1.53 times more return on investment than Anhui Jiuhuashan. However, Shanghai Broadband is 1.53 times more volatile than Anhui Jiuhuashan Tourism. It trades about -0.04 of its potential returns per unit of risk. Anhui Jiuhuashan Tourism is currently generating about -0.11 per unit of risk. If you would invest 406.00 in Shanghai Broadband Technology on September 13, 2025 and sell it today you would lose (24.00) from holding Shanghai Broadband Technology or give up 5.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shanghai Broadband Technology vs. Anhui Jiuhuashan Tourism
Performance |
| Timeline |
| Shanghai Broadband |
| Anhui Jiuhuashan Tourism |
Shanghai Broadband and Anhui Jiuhuashan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shanghai Broadband and Anhui Jiuhuashan
The main advantage of trading using opposite Shanghai Broadband and Anhui Jiuhuashan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shanghai Broadband position performs unexpectedly, Anhui Jiuhuashan 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 Anhui Jiuhuashan will offset losses from the drop in Anhui Jiuhuashan's long position.| Shanghai Broadband vs. Huaibei Mining Holdings | Shanghai Broadband vs. Pengxin International Mining | Shanghai Broadband vs. Uroica Mining Safety | Shanghai Broadband vs. Fujian Oriental Silver |
| Anhui Jiuhuashan vs. Nsfocus Information Technology | Anhui Jiuhuashan vs. GRG Banking Equipment | Anhui Jiuhuashan vs. Shenwu Energy Saving | Anhui Jiuhuashan vs. ButOne Information Corp |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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