Correlation Between Emdoor Information and Jiangsu Jinling
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By analyzing existing cross correlation between Emdoor Information Co and Jiangsu Jinling Sports, you can compare the effects of market volatilities on Emdoor Information and Jiangsu Jinling 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 Emdoor Information with a short position of Jiangsu Jinling. Check out your portfolio center. Please also check ongoing floating volatility patterns of Emdoor Information and Jiangsu Jinling.
Diversification Opportunities for Emdoor Information and Jiangsu Jinling
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Emdoor and Jiangsu is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Emdoor Information Co and Jiangsu Jinling Sports in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Jinling Sports and Emdoor Information 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 Emdoor Information Co are associated (or correlated) with Jiangsu Jinling. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Jinling Sports has no effect on the direction of Emdoor Information i.e., Emdoor Information and Jiangsu Jinling go up and down completely randomly.
Pair Corralation between Emdoor Information and Jiangsu Jinling
Assuming the 90 days trading horizon Emdoor Information Co is expected to under-perform the Jiangsu Jinling. In addition to that, Emdoor Information is 1.92 times more volatile than Jiangsu Jinling Sports. It trades about -0.01 of its total potential returns per unit of risk. Jiangsu Jinling Sports is currently generating about 0.24 per unit of volatility. If you would invest 1,180 in Jiangsu Jinling Sports on November 5, 2024 and sell it today you would earn a total of 105.00 from holding Jiangsu Jinling Sports or generate 8.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Emdoor Information Co vs. Jiangsu Jinling Sports
Performance |
| Timeline |
| Emdoor Information |
| Jiangsu Jinling Sports |
Emdoor Information and Jiangsu Jinling Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Emdoor Information and Jiangsu Jinling
The main advantage of trading using opposite Emdoor Information and Jiangsu Jinling positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Emdoor Information position performs unexpectedly, Jiangsu Jinling 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 Jinling will offset losses from the drop in Jiangsu Jinling's long position.| Emdoor Information vs. Eastroc Beverage Group | Emdoor Information vs. HengFeng Information Technology | Emdoor Information vs. JCHX Mining Management | Emdoor Information vs. Cicc Fund Management |
| Jiangsu Jinling vs. Long Yuan Construction | Jiangsu Jinling vs. China Railway Construction | Jiangsu Jinling vs. Nexchip Semiconductor Corp | Jiangsu Jinling vs. GRINM Semiconductor Materials |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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