Correlation Between Lander Sports and Jiangnan Mould
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By analyzing existing cross correlation between Lander Sports Development and Jiangnan Mould Plastic, you can compare the effects of market volatilities on Lander Sports and Jiangnan Mould 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 Lander Sports with a short position of Jiangnan Mould. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and Jiangnan Mould.
Diversification Opportunities for Lander Sports and Jiangnan Mould
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Lander and Jiangnan is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and Jiangnan Mould Plastic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangnan Mould Plastic and Lander Sports 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 Lander Sports Development are associated (or correlated) with Jiangnan Mould. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangnan Mould Plastic has no effect on the direction of Lander Sports i.e., Lander Sports and Jiangnan Mould go up and down completely randomly.
Pair Corralation between Lander Sports and Jiangnan Mould
Assuming the 90 days trading horizon Lander Sports Development is expected to generate 1.2 times more return on investment than Jiangnan Mould. However, Lander Sports is 1.2 times more volatile than Jiangnan Mould Plastic. It trades about 0.13 of its potential returns per unit of risk. Jiangnan Mould Plastic is currently generating about 0.12 per unit of risk. If you would invest 227.00 in Lander Sports Development on September 12, 2024 and sell it today you would earn a total of 131.00 from holding Lander Sports Development or generate 57.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lander Sports Development vs. Jiangnan Mould Plastic
Performance |
| Timeline |
| Lander Sports Development |
| Jiangnan Mould Plastic |
Lander Sports and Jiangnan Mould Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lander Sports and Jiangnan Mould
The main advantage of trading using opposite Lander Sports and Jiangnan Mould positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, Jiangnan Mould 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 Jiangnan Mould will offset losses from the drop in Jiangnan Mould's long position.| Lander Sports vs. Industrial and Commercial | Lander Sports vs. China Construction Bank | Lander Sports vs. Bank of China | Lander Sports vs. Agricultural Bank of |
| Jiangnan Mould vs. Suzhou Douson Drilling | Jiangnan Mould vs. Zhejiang Construction Investment | Jiangnan Mould vs. Xiandai Investment Co | Jiangnan Mould vs. Lander Sports Development |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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