Correlation Between Jiangnan Mould and Industrial Securities
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By analyzing existing cross correlation between Jiangnan Mould Plastic and Industrial Securities Co, you can compare the effects of market volatilities on Jiangnan Mould and Industrial Securities 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 Industrial Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangnan Mould and Industrial Securities.
Diversification Opportunities for Jiangnan Mould and Industrial Securities
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jiangnan and Industrial is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Jiangnan Mould Plastic and Industrial Securities Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Industrial Securities 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 Industrial Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Industrial Securities has no effect on the direction of Jiangnan Mould i.e., Jiangnan Mould and Industrial Securities go up and down completely randomly.
Pair Corralation between Jiangnan Mould and Industrial Securities
Assuming the 90 days trading horizon Jiangnan Mould Plastic is expected to generate 1.16 times more return on investment than Industrial Securities. However, Jiangnan Mould is 1.16 times more volatile than Industrial Securities Co. It trades about 0.04 of its potential returns per unit of risk. Industrial Securities Co is currently generating about -0.12 per unit of risk. If you would invest 715.00 in Jiangnan Mould Plastic on October 24, 2024 and sell it today you would earn a total of 8.00 from holding Jiangnan Mould Plastic or generate 1.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangnan Mould Plastic vs. Industrial Securities Co
Performance |
| Timeline |
| Jiangnan Mould Plastic |
| Industrial Securities |
Jiangnan Mould and Industrial Securities Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangnan Mould and Industrial Securities
The main advantage of trading using opposite Jiangnan Mould and Industrial Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangnan Mould position performs unexpectedly, Industrial Securities 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 Industrial Securities will offset losses from the drop in Industrial Securities' long position.| Jiangnan Mould vs. Hunan Investment Group | Jiangnan Mould vs. Harbin Hatou Investment | Jiangnan Mould vs. Zhejiang Construction Investment | Jiangnan Mould vs. Xinjiang Communications Construction |
| Industrial Securities vs. Panda Financial Holding | Industrial Securities vs. Jiangsu Financial Leasing | Industrial Securities vs. Kingclean Electric Co | Industrial Securities vs. Ping An Insurance |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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