Correlation Between Jiangnan Mould and Henan Lantian
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiangnan Mould Plastic and Henan Lantian Gas, you can compare the effects of market volatilities on Jiangnan Mould and Henan Lantian 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 Henan Lantian. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangnan Mould and Henan Lantian.
Diversification Opportunities for Jiangnan Mould and Henan Lantian
-0.75 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jiangnan and Henan is -0.75. Overlapping area represents the amount of risk that can be diversified away by holding Jiangnan Mould Plastic and Henan Lantian Gas in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Henan Lantian Gas 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 Henan Lantian. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Henan Lantian Gas has no effect on the direction of Jiangnan Mould i.e., Jiangnan Mould and Henan Lantian go up and down completely randomly.
Pair Corralation between Jiangnan Mould and Henan Lantian
Assuming the 90 days trading horizon Jiangnan Mould Plastic is expected to generate 1.77 times more return on investment than Henan Lantian. However, Jiangnan Mould is 1.77 times more volatile than Henan Lantian Gas. It trades about 0.05 of its potential returns per unit of risk. Henan Lantian Gas is currently generating about 0.06 per unit of risk. If you would invest 449.00 in Jiangnan Mould Plastic on September 4, 2024 and sell it today you would earn a total of 303.00 from holding Jiangnan Mould Plastic or generate 67.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangnan Mould Plastic vs. Henan Lantian Gas
Performance |
| Timeline |
| Jiangnan Mould Plastic |
| Henan Lantian Gas |
Jiangnan Mould and Henan Lantian Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangnan Mould and Henan Lantian
The main advantage of trading using opposite Jiangnan Mould and Henan Lantian positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangnan Mould position performs unexpectedly, Henan Lantian 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 Henan Lantian will offset losses from the drop in Henan Lantian's long position.| Jiangnan Mould vs. Cultural Investment Holdings | Jiangnan Mould vs. Gome Telecom Equipment | Jiangnan Mould vs. Bus Online Co | Jiangnan Mould vs. Holitech Technology Co |
| Henan Lantian vs. Agricultural Bank of | Henan Lantian vs. Industrial and Commercial | Henan Lantian vs. Bank of China | Henan Lantian vs. China Construction Bank |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Bonds Directory Find actively traded corporate debentures issued by US companies |