Correlation Between City Development and JCHX Mining
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By analyzing existing cross correlation between City Development Environment and JCHX Mining Management, you can compare the effects of market volatilities on City Development and JCHX Mining 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 City Development with a short position of JCHX Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of City Development and JCHX Mining.
Diversification Opportunities for City Development and JCHX Mining
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between City and JCHX is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding City Development Environment and JCHX Mining Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JCHX Mining Management and City Development 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 City Development Environment are associated (or correlated) with JCHX Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JCHX Mining Management has no effect on the direction of City Development i.e., City Development and JCHX Mining go up and down completely randomly.
Pair Corralation between City Development and JCHX Mining
Assuming the 90 days trading horizon City Development is expected to generate 1.53 times less return on investment than JCHX Mining. But when comparing it to its historical volatility, City Development Environment is 1.14 times less risky than JCHX Mining. It trades about 0.03 of its potential returns per unit of risk. JCHX Mining Management is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 2,840 in JCHX Mining Management on October 29, 2024 and sell it today you would earn a total of 1,184 from holding JCHX Mining Management or generate 41.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
City Development Environment vs. JCHX Mining Management
Performance |
| Timeline |
| City Development Env |
| JCHX Mining Management |
City Development and JCHX Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with City Development and JCHX Mining
The main advantage of trading using opposite City Development and JCHX Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if City Development position performs unexpectedly, JCHX Mining 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 JCHX Mining will offset losses from the drop in JCHX Mining's long position.| City Development vs. China Aluminum International | City Development vs. Zhejiang Yongjin Metal | City Development vs. AVIC Fund Management | City Development vs. Cicc Fund Management |
| JCHX Mining vs. Shuhua Sports Co | JCHX Mining vs. Beijing Jiaman Dress | JCHX Mining vs. Sichuan Fulin Transportation | JCHX Mining vs. Fujian Longzhou Transportation |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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