Correlation Between Jiangnan Mould and Lotus Health
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By analyzing existing cross correlation between Jiangnan Mould Plastic and Lotus Health Group, you can compare the effects of market volatilities on Jiangnan Mould and Lotus Health 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 Jiangnan Mould with a short position of Lotus Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangnan Mould and Lotus Health.
Diversification Opportunities for Jiangnan Mould and Lotus Health
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Jiangnan and Lotus is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Jiangnan Mould Plastic and Lotus Health Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lotus Health Group and Jiangnan Mould 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 Jiangnan Mould Plastic are associated (or correlated) with Lotus Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lotus Health Group has no effect on the direction of Jiangnan Mould i.e., Jiangnan Mould and Lotus Health go up and down completely randomly.
Pair Corralation between Jiangnan Mould and Lotus Health
Assuming the 90 days trading horizon Jiangnan Mould Plastic is expected to under-perform the Lotus Health. But the stock apears to be less risky and, when comparing its historical volatility, Jiangnan Mould Plastic is 2.45 times less risky than Lotus Health. The stock trades about -0.05 of its potential returns per unit of risk. The Lotus Health Group is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 530.00 in Lotus Health Group on October 30, 2024 and sell it today you would lose (27.00) from holding Lotus Health Group or give up 5.09% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangnan Mould Plastic vs. Lotus Health Group
Performance |
| Timeline |
| Jiangnan Mould Plastic |
| Lotus Health Group |
Jiangnan Mould and Lotus Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangnan Mould and Lotus Health
The main advantage of trading using opposite Jiangnan Mould and Lotus Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangnan Mould position performs unexpectedly, Lotus Health 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 Lotus Health will offset losses from the drop in Lotus Health's long position.| Jiangnan Mould vs. BrightGene Bio Medical | Jiangnan Mould vs. Kontour Medical Technology | Jiangnan Mould vs. Threes Company Media | Jiangnan Mould vs. Hengdian Entertainment Co |
| Lotus Health vs. Healthcare Co | Lotus Health vs. Everjoy Health Group | Lotus Health vs. GRG Banking Equipment | Lotus Health vs. Shanghai Rongtai Health |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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