Given investment horizon of 30 days, ChinaBiotics Inc. is expected to under-perform the China. But the stock apears to be less risky and, when comparing its historical volatility, ChinaBiotics Inc. is 1.14 times less risky than China. The stock trades about -0.16 of its potential returns per unit of risk. The China Shenghuo Pharmaceutical Holdings Inc. is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest 14.00 in China Shenghuo Pharmaceutical Holdings Inc. on April 25, 2012 and sell it today you would earn a total of 0.00 from holding China Shenghuo Pharmaceutical Holdings Inc. or generate 0.0% return on investment over 30 days.
Diversification
Good diversification
Overlapping area represents amount of risk that can be diversified away by holding ChinaBiotics Inc. and China Shenghuo Pharmaceutical in the same portfolio (assuming nothing else is changed)
Over the last 30 days China Shenghuo Pharmaceutical Holdings Inc. has generated negative risk-adjusted returns adding no value to investors with long positions.
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