Correlation Between Gansu Huangtai and Jiugui Liquor
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By analyzing existing cross correlation between Gansu Huangtai Wine marketing and Jiugui Liquor Co, you can compare the effects of market volatilities on Gansu Huangtai and Jiugui Liquor 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 Gansu Huangtai with a short position of Jiugui Liquor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gansu Huangtai and Jiugui Liquor.
Diversification Opportunities for Gansu Huangtai and Jiugui Liquor
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Gansu and Jiugui is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Gansu Huangtai Wine marketing and Jiugui Liquor Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiugui Liquor and Gansu Huangtai 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 Gansu Huangtai Wine marketing are associated (or correlated) with Jiugui Liquor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiugui Liquor has no effect on the direction of Gansu Huangtai i.e., Gansu Huangtai and Jiugui Liquor go up and down completely randomly.
Pair Corralation between Gansu Huangtai and Jiugui Liquor
Assuming the 90 days trading horizon Gansu Huangtai Wine marketing is expected to generate 1.28 times more return on investment than Jiugui Liquor. However, Gansu Huangtai is 1.28 times more volatile than Jiugui Liquor Co. It trades about 0.07 of its potential returns per unit of risk. Jiugui Liquor Co is currently generating about 0.02 per unit of risk. If you would invest 1,044 in Gansu Huangtai Wine marketing on August 25, 2024 and sell it today you would earn a total of 278.00 from holding Gansu Huangtai Wine marketing or generate 26.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gansu Huangtai Wine marketing vs. Jiugui Liquor Co
Performance |
| Timeline |
| Gansu Huangtai Wine |
| Jiugui Liquor |
Gansu Huangtai and Jiugui Liquor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gansu Huangtai and Jiugui Liquor
The main advantage of trading using opposite Gansu Huangtai and Jiugui Liquor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gansu Huangtai position performs unexpectedly, Jiugui Liquor 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 Jiugui Liquor will offset losses from the drop in Jiugui Liquor's long position.| Gansu Huangtai vs. Grinm Advanced Materials | Gansu Huangtai vs. Xinke Material | Gansu Huangtai vs. Jiangsu Financial Leasing | Gansu Huangtai vs. GRG Banking Equipment |
| Jiugui Liquor vs. Aluminum Corp of | Jiugui Liquor vs. COL Digital Publishing | Jiugui Liquor vs. Shaanxi Meineng Clean | Jiugui Liquor vs. Gansu Huangtai Wine marketing |
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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