Correlation Between Guobo Electronics and Hunan Kaimeite
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By analyzing existing cross correlation between Guobo Electronics Co and Hunan Kaimeite Gases, you can compare the effects of market volatilities on Guobo Electronics and Hunan Kaimeite 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 Guobo Electronics with a short position of Hunan Kaimeite. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guobo Electronics and Hunan Kaimeite.
Diversification Opportunities for Guobo Electronics and Hunan Kaimeite
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Guobo and Hunan is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Guobo Electronics Co and Hunan Kaimeite Gases in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hunan Kaimeite Gases and Guobo Electronics 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 Guobo Electronics Co are associated (or correlated) with Hunan Kaimeite. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hunan Kaimeite Gases has no effect on the direction of Guobo Electronics i.e., Guobo Electronics and Hunan Kaimeite go up and down completely randomly.
Pair Corralation between Guobo Electronics and Hunan Kaimeite
Assuming the 90 days trading horizon Guobo Electronics Co is expected to under-perform the Hunan Kaimeite. But the stock apears to be less risky and, when comparing its historical volatility, Guobo Electronics Co is 1.6 times less risky than Hunan Kaimeite. The stock trades about -0.02 of its potential returns per unit of risk. The Hunan Kaimeite Gases is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 1,793 in Hunan Kaimeite Gases on September 6, 2025 and sell it today you would earn a total of 230.00 from holding Hunan Kaimeite Gases or generate 12.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guobo Electronics Co vs. Hunan Kaimeite Gases
Performance |
| Timeline |
| Guobo Electronics |
| Hunan Kaimeite Gases |
Guobo Electronics and Hunan Kaimeite Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guobo Electronics and Hunan Kaimeite
The main advantage of trading using opposite Guobo Electronics and Hunan Kaimeite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guobo Electronics position performs unexpectedly, Hunan Kaimeite 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 Hunan Kaimeite will offset losses from the drop in Hunan Kaimeite's long position.| Guobo Electronics vs. Huatian Hotel Group | Guobo Electronics vs. HanS Laser Tech | Guobo Electronics vs. Zhende Medical Co | Guobo Electronics vs. Kailong High Technology |
| Hunan Kaimeite vs. Shenwu Energy Saving | Hunan Kaimeite vs. Bank of Suzhou | Hunan Kaimeite vs. Ningxia Younglight Chemicals | Hunan Kaimeite vs. Panda Financial Holding |
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 .
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