Correlation Between Vanfund Urban and Jiangsu Xinri
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By analyzing existing cross correlation between Vanfund Urban Investment and Jiangsu Xinri E Vehicle, you can compare the effects of market volatilities on Vanfund Urban and Jiangsu Xinri 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 Vanfund Urban with a short position of Jiangsu Xinri. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vanfund Urban and Jiangsu Xinri.
Diversification Opportunities for Vanfund Urban and Jiangsu Xinri
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Vanfund and Jiangsu is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Vanfund Urban Investment and Jiangsu Xinri E Vehicle in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Xinri E and Vanfund Urban 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 Vanfund Urban Investment are associated (or correlated) with Jiangsu Xinri. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Xinri E has no effect on the direction of Vanfund Urban i.e., Vanfund Urban and Jiangsu Xinri go up and down completely randomly.
Pair Corralation between Vanfund Urban and Jiangsu Xinri
Assuming the 90 days trading horizon Vanfund Urban Investment is expected to under-perform the Jiangsu Xinri. In addition to that, Vanfund Urban is 1.42 times more volatile than Jiangsu Xinri E Vehicle. It trades about -0.21 of its total potential returns per unit of risk. Jiangsu Xinri E Vehicle is currently generating about -0.2 per unit of volatility. If you would invest 1,148 in Jiangsu Xinri E Vehicle on October 20, 2024 and sell it today you would lose (124.00) from holding Jiangsu Xinri E Vehicle or give up 10.8% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vanfund Urban Investment vs. Jiangsu Xinri E Vehicle
Performance |
| Timeline |
| Vanfund Urban Investment |
| Jiangsu Xinri E |
Vanfund Urban and Jiangsu Xinri Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vanfund Urban and Jiangsu Xinri
The main advantage of trading using opposite Vanfund Urban and Jiangsu Xinri positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vanfund Urban position performs unexpectedly, Jiangsu Xinri 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 Xinri will offset losses from the drop in Jiangsu Xinri's long position.| Vanfund Urban vs. Ming Yang Smart | Vanfund Urban vs. 159681 | Vanfund Urban vs. 159005 | Vanfund Urban vs. Loctek Ergonomic Technology |
| Jiangsu Xinri vs. Markor International Home | Jiangsu Xinri vs. Shanghai Jinfeng Wine | Jiangsu Xinri vs. Innovative Medical Management | Jiangsu Xinri vs. Anhui Gujing Distillery |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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