Correlation Between Lander Sports and Jinling Hotel
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By analyzing existing cross correlation between Lander Sports Development and Jinling Hotel Corp, you can compare the effects of market volatilities on Lander Sports and Jinling Hotel 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 Jinling Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and Jinling Hotel.
Diversification Opportunities for Lander Sports and Jinling Hotel
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Lander and Jinling is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and Jinling Hotel Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jinling Hotel Corp 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 Jinling Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jinling Hotel Corp has no effect on the direction of Lander Sports i.e., Lander Sports and Jinling Hotel go up and down completely randomly.
Pair Corralation between Lander Sports and Jinling Hotel
Assuming the 90 days trading horizon Lander Sports Development is expected to generate 1.16 times more return on investment than Jinling Hotel. However, Lander Sports is 1.16 times more volatile than Jinling Hotel Corp. It trades about 0.01 of its potential returns per unit of risk. Jinling Hotel Corp is currently generating about -0.02 per unit of risk. If you would invest 322.00 in Lander Sports Development on August 31, 2024 and sell it today you would lose (17.00) from holding Lander Sports Development or give up 5.28% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 99.72% |
| Values | Daily Returns |
Lander Sports Development vs. Jinling Hotel Corp
Performance |
| Timeline |
| Lander Sports Development |
| Jinling Hotel Corp |
Lander Sports and Jinling Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lander Sports and Jinling Hotel
The main advantage of trading using opposite Lander Sports and Jinling Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, Jinling Hotel 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 Jinling Hotel will offset losses from the drop in Jinling Hotel's long position.| Lander Sports vs. Shandong Sinoglory Health | Lander Sports vs. Lotus Health Group | Lander Sports vs. Yunnan Jianzhijia Health Chain | Lander Sports vs. De Rucci Healthy |
| Jinling Hotel vs. China State Construction | Jinling Hotel vs. China Merchants Shekou | Jinling Hotel vs. Huafa Industrial Co | Jinling Hotel vs. China International Capital |
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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