Correlation Between Jiangnan Mould and Postal Savings
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiangnan Mould Plastic and Postal Savings Bank, you can compare the effects of market volatilities on Jiangnan Mould and Postal Savings 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 Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangnan Mould and Postal Savings.
Diversification Opportunities for Jiangnan Mould and Postal Savings
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jiangnan and Postal is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Jiangnan Mould Plastic and Postal Savings Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Postal Savings Bank 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 Postal Savings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Postal Savings Bank has no effect on the direction of Jiangnan Mould i.e., Jiangnan Mould and Postal Savings go up and down completely randomly.
Pair Corralation between Jiangnan Mould and Postal Savings
Assuming the 90 days trading horizon Jiangnan Mould Plastic is expected to generate 2.05 times more return on investment than Postal Savings. However, Jiangnan Mould is 2.05 times more volatile than Postal Savings Bank. It trades about 0.05 of its potential returns per unit of risk. Postal Savings Bank is currently generating about 0.03 per unit of risk. If you would invest 540.00 in Jiangnan Mould Plastic on October 25, 2024 and sell it today you would earn a total of 151.00 from holding Jiangnan Mould Plastic or generate 27.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangnan Mould Plastic vs. Postal Savings Bank
Performance |
| Timeline |
| Jiangnan Mould Plastic |
| Postal Savings Bank |
Jiangnan Mould and Postal Savings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangnan Mould and Postal Savings
The main advantage of trading using opposite Jiangnan Mould and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangnan Mould position performs unexpectedly, Postal Savings 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 Postal Savings will offset losses from the drop in Postal Savings' long position.| Jiangnan Mould vs. Ningbo Fangzheng Automobile | Jiangnan Mould vs. Xiamen Insight Investment | Jiangnan Mould vs. Tieling Newcity Investment | Jiangnan Mould vs. Sinomach Automobile Co |
| Postal Savings vs. Uxi Unicomp Technology | Postal Savings vs. Jiangnan Mould Plastic | Postal Savings vs. Guangzhou Restaurants Group | Postal Savings vs. Sanxiang Advanced Materials |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios |