Correlation Analysis Between COUNTRY GARDEN and SUN HUNG

This module allows you to analyze existing cross correlation between COUNTRY GARDEN HLDGS LTD and SUN HUNG KAI PROPERTIES LTD. You can compare the effects of market volatilities on COUNTRY GARDEN and SUN HUNG 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 COUNTRY GARDEN with a short position of SUN HUNG. See also your portfolio center. Please also check ongoing floating volatility patterns of COUNTRY GARDEN and SUN HUNG.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

COUNTRY GARDEN HLDGS  
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Risk-Adjusted Performance

Over the last 30 days COUNTRY GARDEN HLDGS LTD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest inconsistent performance, the Stock's fundamental drivers remain sound and the ongoing tumult on Wall Street may also be a sign of longer-term gains for the firm shareholders.
SUN HUNG KAI  
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Risk-Adjusted Performance

Over the last 30 days SUN HUNG KAI PROPERTIES LTD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of inconsistent performance in the last few months, the Stock's fundamental drivers remain rather sound which may send shares a bit higher in November 2019. The ongoing tumult may also be a sign of longer-term up-swing for the firm shareholders.

COUNTRY GARDEN and SUN HUNG Volatility Contrast

 Predicted Return Density 
      Returns 

COUNTRY GARDEN HLDGS CO LTD  vs.  SUN HUNG KAI PROPERTIES LTD

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, COUNTRY GARDEN HLDGS LTD is expected to generate 0.95 times more return on investment than SUN HUNG. However, COUNTRY GARDEN HLDGS LTD is 1.05 times less risky than SUN HUNG. It trades about -0.05 of its potential returns per unit of risk. SUN HUNG KAI PROPERTIES LTD is currently generating about -0.11 per unit of risk. If you would invest  147.00  in COUNTRY GARDEN HLDGS LTD on September 14, 2019 and sell it today you would lose (13.00)  from holding COUNTRY GARDEN HLDGS LTD or give up 8.84% of portfolio value over 30 days.

Pair Corralation between COUNTRY GARDEN and SUN HUNG

0.82
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for COUNTRY GARDEN and SUN HUNG

COUNTRY GARDEN HLDGS CO LTD diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding COUNTRY GARDEN HLDGS CO LTD and SUN HUNG KAI PROPERTIES LTD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SUN HUNG KAI and COUNTRY GARDEN 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 COUNTRY GARDEN HLDGS LTD are associated (or correlated) with SUN HUNG. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SUN HUNG KAI has no effect on the direction of COUNTRY GARDEN i.e. COUNTRY GARDEN and SUN HUNG go up and down completely randomly.
See also your portfolio center. Please also try Positions Ratings module to 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.


 
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