Correlation Between Shenzhen Centralcon and Jiangsu Jinling
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By analyzing existing cross correlation between Shenzhen Centralcon Investment and Jiangsu Jinling Sports, you can compare the effects of market volatilities on Shenzhen Centralcon and Jiangsu Jinling 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 Shenzhen Centralcon with a short position of Jiangsu Jinling. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Centralcon and Jiangsu Jinling.
Diversification Opportunities for Shenzhen Centralcon and Jiangsu Jinling
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Shenzhen and Jiangsu is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Centralcon Investment and Jiangsu Jinling Sports in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Jinling Sports and Shenzhen Centralcon 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 Shenzhen Centralcon Investment are associated (or correlated) with Jiangsu Jinling. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Jinling Sports has no effect on the direction of Shenzhen Centralcon i.e., Shenzhen Centralcon and Jiangsu Jinling go up and down completely randomly.
Pair Corralation between Shenzhen Centralcon and Jiangsu Jinling
Assuming the 90 days trading horizon Shenzhen Centralcon Investment is expected to generate 0.96 times more return on investment than Jiangsu Jinling. However, Shenzhen Centralcon Investment is 1.05 times less risky than Jiangsu Jinling. It trades about 0.05 of its potential returns per unit of risk. Jiangsu Jinling Sports is currently generating about 0.0 per unit of risk. If you would invest 388.00 in Shenzhen Centralcon Investment on October 18, 2024 and sell it today you would earn a total of 47.00 from holding Shenzhen Centralcon Investment or generate 12.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen Centralcon Investment vs. Jiangsu Jinling Sports
Performance |
| Timeline |
| Shenzhen Centralcon |
| Jiangsu Jinling Sports |
Shenzhen Centralcon and Jiangsu Jinling Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Centralcon and Jiangsu Jinling
The main advantage of trading using opposite Shenzhen Centralcon and Jiangsu Jinling positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Centralcon position performs unexpectedly, Jiangsu Jinling 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 Jiangsu Jinling will offset losses from the drop in Jiangsu Jinling's long position.| Shenzhen Centralcon vs. Shenzhen Noposion Agrochemicals | Shenzhen Centralcon vs. Tibet Huayu Mining | Shenzhen Centralcon vs. Shandong Rike Chemical | Shenzhen Centralcon vs. Jinsanjiang Silicon Material |
| Jiangsu Jinling vs. Cicc Fund Management | Jiangsu Jinling vs. Shanghai CEO Environmental | Jiangsu Jinling vs. Shenzhen Centralcon Investment | Jiangsu Jinling vs. Chengdu Xingrong Investment |
Check out your portfolio center.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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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