Correlation Between Gansu Huangtai and Jiangsu Xinri
Specify exactly 2 symbols:
By analyzing existing cross correlation between Gansu Huangtai Wine marketing and Jiangsu Xinri E Vehicle, you can compare the effects of market volatilities on Gansu Huangtai and Jiangsu Xinri 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 Jiangsu Xinri. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gansu Huangtai and Jiangsu Xinri.
Diversification Opportunities for Gansu Huangtai and Jiangsu Xinri
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Gansu and Jiangsu is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Gansu Huangtai Wine marketing and Jiangsu Xinri E Vehicle in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Xinri E 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 Jiangsu Xinri. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Xinri E has no effect on the direction of Gansu Huangtai i.e., Gansu Huangtai and Jiangsu Xinri go up and down completely randomly.
Pair Corralation between Gansu Huangtai and Jiangsu Xinri
Assuming the 90 days trading horizon Gansu Huangtai Wine marketing is expected to generate 2.22 times more return on investment than Jiangsu Xinri. However, Gansu Huangtai is 2.22 times more volatile than Jiangsu Xinri E Vehicle. It trades about 0.15 of its potential returns per unit of risk. Jiangsu Xinri E Vehicle is currently generating about -0.22 per unit of risk. If you would invest 1,476 in Gansu Huangtai Wine marketing on October 11, 2024 and sell it today you would earn a total of 241.00 from holding Gansu Huangtai Wine marketing or generate 16.33% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 95.45% |
Values | Daily Returns |
Gansu Huangtai Wine marketing vs. Jiangsu Xinri E Vehicle
Performance |
Timeline |
Gansu Huangtai Wine |
Jiangsu Xinri E |
Gansu Huangtai and Jiangsu Xinri Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Gansu Huangtai and Jiangsu Xinri
The main advantage of trading using opposite Gansu Huangtai and Jiangsu Xinri positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gansu Huangtai position performs unexpectedly, Jiangsu Xinri 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 Xinri will offset losses from the drop in Jiangsu Xinri's long position.Gansu Huangtai vs. Zhongshan Public Utilities | Gansu Huangtai vs. Elite Color Environmental | Gansu Huangtai vs. GreenTech Environmental Co | Gansu Huangtai vs. Xiamen Goldenhome Co |
Jiangsu Xinri vs. Beijing Bewinner Communications | Jiangsu Xinri vs. Holitech Technology Co | Jiangsu Xinri vs. China Satellite Communications | Jiangsu Xinri vs. 360 Security 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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
Other Complementary Tools
Share Portfolio Track or share privately all of your investments from the convenience of any device | |
Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum |