Correlation Between Jiugui Liquor and Do Fluoride
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By analyzing existing cross correlation between Jiugui Liquor Co and Do Fluoride Chemicals Co, you can compare the effects of market volatilities on Jiugui Liquor and Do Fluoride 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 Jiugui Liquor with a short position of Do Fluoride. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiugui Liquor and Do Fluoride.
Diversification Opportunities for Jiugui Liquor and Do Fluoride
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Jiugui and 002407 is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Jiugui Liquor Co and Do Fluoride Chemicals Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Do Fluoride Chemicals and Jiugui Liquor 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 Jiugui Liquor Co are associated (or correlated) with Do Fluoride. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Do Fluoride Chemicals has no effect on the direction of Jiugui Liquor i.e., Jiugui Liquor and Do Fluoride go up and down completely randomly.
Pair Corralation between Jiugui Liquor and Do Fluoride
Assuming the 90 days trading horizon Jiugui Liquor Co is expected to under-perform the Do Fluoride. In addition to that, Jiugui Liquor is 1.51 times more volatile than Do Fluoride Chemicals Co. It trades about -0.5 of its total potential returns per unit of risk. Do Fluoride Chemicals Co is currently generating about -0.51 per unit of volatility. If you would invest 1,323 in Do Fluoride Chemicals Co on October 14, 2024 and sell it today you would lose (209.00) from holding Do Fluoride Chemicals Co or give up 15.8% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiugui Liquor Co vs. Do Fluoride Chemicals Co
Performance |
| Timeline |
| Jiugui Liquor |
| Do Fluoride Chemicals |
Jiugui Liquor and Do Fluoride Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiugui Liquor and Do Fluoride
The main advantage of trading using opposite Jiugui Liquor and Do Fluoride positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiugui Liquor position performs unexpectedly, Do Fluoride 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 Do Fluoride will offset losses from the drop in Do Fluoride's long position.| Jiugui Liquor vs. Western Metal Materials | Jiugui Liquor vs. FSPG Hi Tech Co | Jiugui Liquor vs. Shenyang Huitian Thermal | Jiugui Liquor vs. Ningbo Jintian Copper |
| Do Fluoride vs. Shaanxi Construction Machinery | Do Fluoride vs. Anhui Gujing Distillery | Do Fluoride vs. Bus Online Co | Do Fluoride vs. Shenzhen Zhongzhuang Construction |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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