Correlation Between China Securities and Jiangsu Hoperun
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By analyzing existing cross correlation between China Securities 800 and Jiangsu Hoperun Software, you can compare the effects of market volatilities on China Securities and Jiangsu Hoperun 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 China Securities with a short position of Jiangsu Hoperun. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Jiangsu Hoperun.
Diversification Opportunities for China Securities and Jiangsu Hoperun
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between China and Jiangsu is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 and Jiangsu Hoperun Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Hoperun Software and China Securities 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 China Securities 800 are associated (or correlated) with Jiangsu Hoperun. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Hoperun Software has no effect on the direction of China Securities i.e., China Securities and Jiangsu Hoperun go up and down completely randomly.
Pair Corralation between China Securities and Jiangsu Hoperun
Assuming the 90 days trading horizon China Securities is expected to generate 7.45 times less return on investment than Jiangsu Hoperun. But when comparing it to its historical volatility, China Securities 800 is 3.43 times less risky than Jiangsu Hoperun. It trades about 0.04 of its potential returns per unit of risk. Jiangsu Hoperun Software is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 2,669 in Jiangsu Hoperun Software on September 2, 2024 and sell it today you would earn a total of 3,392 from holding Jiangsu Hoperun Software or generate 127.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Securities 800 vs. Jiangsu Hoperun Software
Performance |
| Timeline |
China Securities and Jiangsu Hoperun Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Jiangsu Hoperun Software
Pair trading matchups for Jiangsu Hoperun
Pair Trading with China Securities and Jiangsu Hoperun
The main advantage of trading using opposite China Securities and Jiangsu Hoperun positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities position performs unexpectedly, Jiangsu Hoperun 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 Jiangsu Hoperun will offset losses from the drop in Jiangsu Hoperun's long position.| China Securities vs. Omnijoi Media Corp | China Securities vs. Gansu Jiu Steel | China Securities vs. Dalian Zeus Entertainment | China Securities vs. JiShi Media Co |
| Jiangsu Hoperun vs. Agricultural Bank of | Jiangsu Hoperun vs. Industrial and Commercial | Jiangsu Hoperun vs. Bank of China | Jiangsu Hoperun vs. China Construction Bank |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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