Correlation Between Lander Sports and JiShi Media
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By analyzing existing cross correlation between Lander Sports Development and JiShi Media Co, you can compare the effects of market volatilities on Lander Sports and JiShi Media 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 JiShi Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and JiShi Media.
Diversification Opportunities for Lander Sports and JiShi Media
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Lander and JiShi is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and JiShi Media Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JiShi Media 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 JiShi Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JiShi Media has no effect on the direction of Lander Sports i.e., Lander Sports and JiShi Media go up and down completely randomly.
Pair Corralation between Lander Sports and JiShi Media
Assuming the 90 days trading horizon Lander Sports Development is expected to generate 0.9 times more return on investment than JiShi Media. However, Lander Sports Development is 1.11 times less risky than JiShi Media. It trades about 0.03 of its potential returns per unit of risk. JiShi Media Co is currently generating about 0.02 per unit of risk. If you would invest 282.00 in Lander Sports Development on November 27, 2024 and sell it today you would earn a total of 61.00 from holding Lander Sports Development or generate 21.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lander Sports Development vs. JiShi Media Co
Performance |
| Timeline |
| Lander Sports Development |
| JiShi Media |
Lander Sports and JiShi Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lander Sports and JiShi Media
The main advantage of trading using opposite Lander Sports and JiShi Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, JiShi Media 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 JiShi Media will offset losses from the drop in JiShi Media's long position.| Lander Sports vs. HanS Laser Tech | Lander Sports vs. Yingde Greatchem Chemicals | Lander Sports vs. HUAQIN TECHNOLOGY LTD | Lander Sports vs. Hubei Xingfa Chemicals |
| JiShi Media vs. Linewell Software Co | JiShi Media vs. Ningbo Fujia Industrial | JiShi Media vs. Hangzhou Pinming Software | JiShi Media vs. Linkage Software Co |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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