Correlation Between Jiugui Liquor and Sublime China
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiugui Liquor Co and Sublime China Information, you can compare the effects of market volatilities on Jiugui Liquor and Sublime China 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 Sublime China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiugui Liquor and Sublime China.
Diversification Opportunities for Jiugui Liquor and Sublime China
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Jiugui and Sublime is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Jiugui Liquor Co and Sublime China Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sublime China Information 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 Sublime China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sublime China Information has no effect on the direction of Jiugui Liquor i.e., Jiugui Liquor and Sublime China go up and down completely randomly.
Pair Corralation between Jiugui Liquor and Sublime China
Assuming the 90 days trading horizon Jiugui Liquor Co is expected to under-perform the Sublime China. But the stock apears to be less risky and, when comparing its historical volatility, Jiugui Liquor Co is 1.8 times less risky than Sublime China. The stock trades about -0.4 of its potential returns per unit of risk. The Sublime China Information is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 5,971 in Sublime China Information on October 12, 2024 and sell it today you would earn a total of 88.00 from holding Sublime China Information or generate 1.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiugui Liquor Co vs. Sublime China Information
Performance |
| Timeline |
| Jiugui Liquor |
| Sublime China Information |
Jiugui Liquor and Sublime China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiugui Liquor and Sublime China
The main advantage of trading using opposite Jiugui Liquor and Sublime China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiugui Liquor position performs unexpectedly, Sublime China 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 Sublime China will offset losses from the drop in Sublime China's long position.| Jiugui Liquor vs. Changchun BCHT Biotechnology | Jiugui Liquor vs. Anhui Huaheng Biotechnology | Jiugui Liquor vs. Sichuan Yahua Industrial | Jiugui Liquor vs. Ye Chiu Metal |
| Sublime China vs. Songz Automobile Air | Sublime China vs. Dareway Software Co | Sublime China vs. Jiugui Liquor Co | Sublime China vs. Anhui Jianghuai Automobile |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |