Correlation Between De Rucci and Shanghai Jin
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By analyzing existing cross correlation between De Rucci Healthy and Shanghai Jin Jiang, you can compare the effects of market volatilities on De Rucci and Shanghai Jin 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 De Rucci with a short position of Shanghai Jin. Check out your portfolio center. Please also check ongoing floating volatility patterns of De Rucci and Shanghai Jin.
Diversification Opportunities for De Rucci and Shanghai Jin
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between 001323 and Shanghai is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding De Rucci Healthy and Shanghai Jin Jiang in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Jin Jiang and De Rucci 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 De Rucci Healthy are associated (or correlated) with Shanghai Jin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Jin Jiang has no effect on the direction of De Rucci i.e., De Rucci and Shanghai Jin go up and down completely randomly.
Pair Corralation between De Rucci and Shanghai Jin
Assuming the 90 days trading horizon De Rucci Healthy is expected to generate 2.11 times more return on investment than Shanghai Jin. However, De Rucci is 2.11 times more volatile than Shanghai Jin Jiang. It trades about 0.11 of its potential returns per unit of risk. Shanghai Jin Jiang is currently generating about -0.03 per unit of risk. If you would invest 3,142 in De Rucci Healthy on October 14, 2024 and sell it today you would earn a total of 474.00 from holding De Rucci Healthy or generate 15.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
De Rucci Healthy vs. Shanghai Jin Jiang
Performance |
| Timeline |
| De Rucci Healthy |
| Shanghai Jin Jiang |
De Rucci and Shanghai Jin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with De Rucci and Shanghai Jin
The main advantage of trading using opposite De Rucci and Shanghai Jin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if De Rucci position performs unexpectedly, Shanghai Jin 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 Shanghai Jin will offset losses from the drop in Shanghai Jin's long position.| De Rucci vs. Songz Automobile Air | De Rucci vs. Sanbo Hospital Management | De Rucci vs. China Mobile Limited | De Rucci vs. Meinian Onehealth Healthcare |
| Shanghai Jin vs. State Grid InformationCommunication | Shanghai Jin vs. Songz Automobile Air | Shanghai Jin vs. Guangzhou Automobile Group | Shanghai Jin vs. CIMC Vehicles Co |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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