Correlation Analysis Between TSINGTAO BREWERY and International Business

This module allows you to analyze existing cross correlation between TSINGTAO BREWERY H YC 1 and International Business Machines. You can compare the effects of market volatilities on TSINGTAO BREWERY and International Business 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 TSINGTAO BREWERY with a short position of International Business. See also your portfolio center. Please also check ongoing floating volatility patterns of TSINGTAO BREWERY and International Business.
Horizon     30 Days    Login   to change
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Comparative Performance

TSINGTAO BREWERY H  
00

Risk-Adjusted Performance

Over the last 30 days TSINGTAO BREWERY H YC 1 has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, TSINGTAO BREWERY is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
International Business  
00

Risk-Adjusted Performance

Over the last 30 days International Business Machines has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, International Business is not utilizing all of its potentials. The continuing stock price chaos, may contribute to medium term losses for the stakeholders.

TSINGTAO BREWERY and International Business Volatility Contrast

TSINGTAO BREWERY H YC 1  vs.  International Business Machine

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.00  in TSINGTAO BREWERY H YC 1 on July 22, 2019 and sell it today you would earn a total of  0.00  from holding TSINGTAO BREWERY H YC 1 or generate 0.0% return on investment over 30 days.

Pair Corralation between TSINGTAO BREWERY and International Business

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy2.33%
ValuesDaily Returns

Diversification Opportunities for TSINGTAO BREWERY and International Business

TSINGTAO BREWERY H YC 1 diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding TSINGTAO BREWERY H YC 1 and International Business Machine in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on International Business and TSINGTAO BREWERY 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 TSINGTAO BREWERY H YC 1 are associated (or correlated) with International Business. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of International Business has no effect on the direction of TSINGTAO BREWERY i.e. TSINGTAO BREWERY and International Business go up and down completely randomly.
See also your portfolio center. Please also try Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..


 
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