Correlation Analysis Between Intelsat and China Unicom

This module allows you to analyze existing cross correlation between Intelsat SA and China Unicom Ltd. You can compare the effects of market volatilities on Intelsat and China Unicom 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 Intelsat with a short position of China Unicom. See also your portfolio center. Please also check ongoing floating volatility patterns of Intelsat and China Unicom.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Intelsat SA  
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Risk-Adjusted Performance

Over the last 30 days Intelsat SA has generated negative risk-adjusted returns adding no value to investors with long positions. Despite uncertain performance in the last few months, the Stock's fundamental indicators remain nearly stable which may send shares a bit higher in January 2020. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
China Unicom  
00

Risk-Adjusted Performance

Over the last 30 days China Unicom Ltd has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Stock's essential indicators remain comparatively unchanging which may send shares a bit higher in January 2020. The late uproar may also be a sign of mid-term up-swing for the firm leadership.

Intelsat and China Unicom Volatility Contrast

 Predicted Return Density 
      Returns 

Intelsat SA  vs.  China Unicom Ltd

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Intelsat SA is expected to under-perform the China Unicom. In addition to that, Intelsat is 6.05 times more volatile than China Unicom Ltd. It trades about -0.16 of its total potential returns per unit of risk. China Unicom Ltd is currently generating about -0.18 per unit of volatility. If you would invest  1,038  in China Unicom Ltd on November 7, 2019 and sell it today you would lose (168.00)  from holding China Unicom Ltd or give up 16.18% of portfolio value over 30 days.

Pair Corralation between Intelsat and China Unicom

0.85
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Intelsat and China Unicom

Intelsat SA diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Intelsat SA and China Unicom Ltd in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on China Unicom and Intelsat 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 Intelsat SA are associated (or correlated) with China Unicom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Unicom has no effect on the direction of Intelsat i.e. Intelsat and China Unicom go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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