Correlation Analysis Between Ambow Education and Hailiang Education

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

Comparative Performance

Ambow Education Hold  
00

Risk-Adjusted Performance

Over the last 30 days Ambow Education Holding Ltd Am has generated negative risk-adjusted returns adding no value to investors with long positions. Allthough sluggish performance in the last few months, the Stock's forward indicators remain quite persistent which may send shares a bit higher in October 2019. The existing mess may also be a sign of long standing up-swing for the corporation partners.
Hailiang Education  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Hailiang Education Group are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. In spite of rather sound fundamental drivers, Hailiang Education is not utilizing all of its potentials. The new stock price tumult, may contribute to shorter-term losses for the shareholders.

Ambow Education and Hailiang Education Volatility Contrast

 Predicted Return Density 
      Returns 

Ambow Education Holding Ltd Am  vs.  Hailiang Education Group Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Ambow Education Holding Ltd Am is expected to under-perform the Hailiang Education. In addition to that, Ambow Education is 5.11 times more volatile than Hailiang Education Group. It trades about -0.09 of its total potential returns per unit of risk. Hailiang Education Group is currently generating about 0.07 per unit of volatility. If you would invest  6,005  in Hailiang Education Group on August 19, 2019 and sell it today you would earn a total of  330.00  from holding Hailiang Education Group or generate 5.5% return on investment over 30 days.

Pair Corralation between Ambow Education and Hailiang Education

0.55
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Ambow Education and Hailiang Education

Ambow Education Holding Ltd Am diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Ambow Education Holding Ltd Am and Hailiang Education Group Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Hailiang Education and Ambow Education 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 Ambow Education Holding Ltd Am are associated (or correlated) with Hailiang Education. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hailiang Education has no effect on the direction of Ambow Education i.e. Ambow Education and Hailiang Education go up and down completely randomly.
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