Correlation Between Jiugui Liquor and Sino Platinum
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By analyzing existing cross correlation between Jiugui Liquor Co and Sino Platinum Metals Co, you can compare the effects of market volatilities on Jiugui Liquor and Sino Platinum 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 Sino Platinum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiugui Liquor and Sino Platinum.
Diversification Opportunities for Jiugui Liquor and Sino Platinum
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jiugui and Sino is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Jiugui Liquor Co and Sino Platinum Metals Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sino Platinum Metals 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 Sino Platinum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sino Platinum Metals has no effect on the direction of Jiugui Liquor i.e., Jiugui Liquor and Sino Platinum go up and down completely randomly.
Pair Corralation between Jiugui Liquor and Sino Platinum
Assuming the 90 days trading horizon Jiugui Liquor Co is expected to generate 1.87 times more return on investment than Sino Platinum. However, Jiugui Liquor is 1.87 times more volatile than Sino Platinum Metals Co. It trades about 0.07 of its potential returns per unit of risk. Sino Platinum Metals Co is currently generating about -0.07 per unit of risk. If you would invest 5,450 in Jiugui Liquor Co on August 29, 2024 and sell it today you would earn a total of 239.00 from holding Jiugui Liquor Co or generate 4.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiugui Liquor Co vs. Sino Platinum Metals Co
Performance |
| Timeline |
| Jiugui Liquor |
| Sino Platinum Metals |
Jiugui Liquor and Sino Platinum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiugui Liquor and Sino Platinum
The main advantage of trading using opposite Jiugui Liquor and Sino Platinum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiugui Liquor position performs unexpectedly, Sino Platinum 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 Sino Platinum will offset losses from the drop in Sino Platinum's long position.| Jiugui Liquor vs. Songz Automobile Air | Jiugui Liquor vs. Shenzhen Kexin Communication | Jiugui Liquor vs. Jilin Jlu Communication | Jiugui Liquor vs. Anhui Jianghuai Automobile |
| Sino Platinum vs. Zijin Mining Group | Sino Platinum vs. Wanhua Chemical Group | Sino Platinum vs. Baoshan Iron Steel | Sino Platinum vs. Shandong Gold Mining |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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