Correlation Between Jiangnan Mould and Cultural Investment
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By analyzing existing cross correlation between Jiangnan Mould Plastic and Cultural Investment Holdings, you can compare the effects of market volatilities on Jiangnan Mould and Cultural Investment 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 Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangnan Mould and Cultural Investment.
Diversification Opportunities for Jiangnan Mould and Cultural Investment
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Jiangnan and Cultural is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Jiangnan Mould Plastic and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural Investment 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 Cultural Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cultural Investment has no effect on the direction of Jiangnan Mould i.e., Jiangnan Mould and Cultural Investment go up and down completely randomly.
Pair Corralation between Jiangnan Mould and Cultural Investment
Assuming the 90 days trading horizon Jiangnan Mould Plastic is expected to under-perform the Cultural Investment. But the stock apears to be less risky and, when comparing its historical volatility, Jiangnan Mould Plastic is 1.28 times less risky than Cultural Investment. The stock trades about -0.03 of its potential returns per unit of risk. The Cultural Investment Holdings is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 230.00 in Cultural Investment Holdings on September 12, 2024 and sell it today you would earn a total of 2.00 from holding Cultural Investment Holdings or generate 0.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.65% |
| Values | Daily Returns |
Jiangnan Mould Plastic vs. Cultural Investment Holdings
Performance |
| Timeline |
| Jiangnan Mould Plastic |
| Cultural Investment |
Jiangnan Mould and Cultural Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangnan Mould and Cultural Investment
The main advantage of trading using opposite Jiangnan Mould and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangnan Mould position performs unexpectedly, Cultural Investment 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 Cultural Investment will offset losses from the drop in Cultural Investment's long position.| Jiangnan Mould vs. Suzhou Douson Drilling | Jiangnan Mould vs. Zhejiang Construction Investment | Jiangnan Mould vs. Xiandai Investment Co | Jiangnan Mould vs. Lander Sports Development |
| Cultural Investment vs. Kweichow Moutai Co | Cultural Investment vs. Shenzhen Mindray Bio Medical | Cultural Investment vs. G bits Network Technology | Cultural Investment vs. Beijing Roborock Technology |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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