Correlation Between COSCO SHIPPING and HAZAMA ANDO

Can any of the company-specific risk be diversified away by investing in both COSCO SHIPPING and HAZAMA ANDO at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining COSCO SHIPPING and HAZAMA ANDO into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between COSCO SHIPPING International and HAZAMA ANDO Corp, you can compare the effects of market volatilities on COSCO SHIPPING and HAZAMA ANDO 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 COSCO SHIPPING with a short position of HAZAMA ANDO. Check out your portfolio center. Please also check ongoing floating volatility patterns of COSCO SHIPPING and HAZAMA ANDO.

Diversification Opportunities for COSCO SHIPPING and HAZAMA ANDO

0.0

Correlation Coefficient

COSCO SHIPPING  HAZAMA ANDO

Pay attention - limited upside

The 3 months correlation between COSCO and HAZAMA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding COSCO SHIPPING International and HAZAMA ANDO Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HAZAMA ANDO Corp and COSCO SHIPPING 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 COSCO SHIPPING International are associated (or correlated) with HAZAMA ANDO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HAZAMA ANDO Corp has no effect on the direction of COSCO SHIPPING i.e., COSCO SHIPPING and HAZAMA ANDO go up and down completely randomly.

Pair Corralation between COSCO SHIPPING and HAZAMA ANDO

If you would invest  77.00  in COSCO SHIPPING International on September 15, 2025 and sell it today you would earn a total of  5.00  from holding COSCO SHIPPING International or generate 6.49% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

COSCO SHIPPING International  vs.  HAZAMA ANDO Corp

COSCO SHIPPING Inter

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in COSCO SHIPPING International are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable technical and fundamental indicators, COSCO SHIPPING is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

HAZAMA ANDO Corp

Risk-Adjusted Performance

Weakest

Over the last 90 days HAZAMA ANDO Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, HAZAMA ANDO is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with COSCO SHIPPING and HAZAMA ANDO

The main advantage of trading using opposite COSCO SHIPPING and HAZAMA ANDO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if COSCO SHIPPING position performs unexpectedly, HAZAMA ANDO can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in HAZAMA ANDO will offset losses from the drop in HAZAMA ANDO's long position.

The idea behind COSCO SHIPPING International and HAZAMA ANDO Corp pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.