Correlation Between Huatian Hotel and Jiangsu Phoenix
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By analyzing existing cross correlation between Huatian Hotel Group and Jiangsu Phoenix Publishing, you can compare the effects of market volatilities on Huatian Hotel and Jiangsu Phoenix 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 Huatian Hotel with a short position of Jiangsu Phoenix. Check out your portfolio center. Please also check ongoing floating volatility patterns of Huatian Hotel and Jiangsu Phoenix.
Diversification Opportunities for Huatian Hotel and Jiangsu Phoenix
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Huatian and Jiangsu is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Huatian Hotel Group and Jiangsu Phoenix Publishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Phoenix Publ and Huatian Hotel 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 Huatian Hotel Group are associated (or correlated) with Jiangsu Phoenix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Phoenix Publ has no effect on the direction of Huatian Hotel i.e., Huatian Hotel and Jiangsu Phoenix go up and down completely randomly.
Pair Corralation between Huatian Hotel and Jiangsu Phoenix
Assuming the 90 days trading horizon Huatian Hotel Group is expected to under-perform the Jiangsu Phoenix. In addition to that, Huatian Hotel is 1.08 times more volatile than Jiangsu Phoenix Publishing. It trades about -0.03 of its total potential returns per unit of risk. Jiangsu Phoenix Publishing is currently generating about 0.04 per unit of volatility. If you would invest 745.00 in Jiangsu Phoenix Publishing on October 12, 2024 and sell it today you would earn a total of 305.00 from holding Jiangsu Phoenix Publishing or generate 40.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Huatian Hotel Group vs. Jiangsu Phoenix Publishing
Performance |
| Timeline |
| Huatian Hotel Group |
| Jiangsu Phoenix Publ |
Huatian Hotel and Jiangsu Phoenix Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Huatian Hotel and Jiangsu Phoenix
The main advantage of trading using opposite Huatian Hotel and Jiangsu Phoenix positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Huatian Hotel position performs unexpectedly, Jiangsu Phoenix 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 Phoenix will offset losses from the drop in Jiangsu Phoenix's long position.| Huatian Hotel vs. Unisplendour Corp | Huatian Hotel vs. Jinling Hotel Corp | Huatian Hotel vs. Industrial Bank Co | Huatian Hotel vs. GRG Banking Equipment |
| Jiangsu Phoenix vs. Huatian Hotel Group | Jiangsu Phoenix vs. Dr Peng Telecom | Jiangsu Phoenix vs. Caihong Display Devices | Jiangsu Phoenix vs. Guangzhou Dongfang Hotel |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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