Correlation Between Jiugui Liquor and Industrial Securities
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiugui Liquor Co and Industrial Securities Co, you can compare the effects of market volatilities on Jiugui Liquor and Industrial Securities 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 Industrial Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiugui Liquor and Industrial Securities.
Diversification Opportunities for Jiugui Liquor and Industrial Securities
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jiugui and Industrial is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Jiugui Liquor Co and Industrial Securities Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Industrial Securities 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 Industrial Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Industrial Securities has no effect on the direction of Jiugui Liquor i.e., Jiugui Liquor and Industrial Securities go up and down completely randomly.
Pair Corralation between Jiugui Liquor and Industrial Securities
Assuming the 90 days trading horizon Jiugui Liquor Co is expected to generate 1.44 times more return on investment than Industrial Securities. However, Jiugui Liquor is 1.44 times more volatile than Industrial Securities Co. It trades about 0.23 of its potential returns per unit of risk. Industrial Securities Co is currently generating about 0.02 per unit of risk. If you would invest 5,101 in Jiugui Liquor Co on September 2, 2024 and sell it today you would earn a total of 895.00 from holding Jiugui Liquor Co or generate 17.55% 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. Industrial Securities Co
Performance |
| Timeline |
| Jiugui Liquor |
| Industrial Securities |
Jiugui Liquor and Industrial Securities Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiugui Liquor and Industrial Securities
The main advantage of trading using opposite Jiugui Liquor and Industrial Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiugui Liquor position performs unexpectedly, Industrial Securities 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 Industrial Securities will offset losses from the drop in Industrial Securities' long position.| Jiugui Liquor vs. Guangdong Shenglu Telecommunication | Jiugui Liquor vs. Hangzhou Gaoxin Rubber | Jiugui Liquor vs. Xinjiang Communications Construction | Jiugui Liquor vs. Sinosteel Luonai Materials |
| Industrial Securities vs. BeiGene | Industrial Securities vs. Kweichow Moutai Co | Industrial Securities vs. Beijing Roborock Technology | Industrial Securities vs. G bits Network Technology |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |