Correlation Between Cloud Live and Jiangsu Financial
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By analyzing existing cross correlation between Cloud Live Technology and Jiangsu Financial Leasing, you can compare the effects of market volatilities on Cloud Live and Jiangsu Financial 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 Cloud Live with a short position of Jiangsu Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cloud Live and Jiangsu Financial.
Diversification Opportunities for Cloud Live and Jiangsu Financial
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Cloud and Jiangsu is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Cloud Live Technology and Jiangsu Financial Leasing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Financial Leasing and Cloud Live 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 Cloud Live Technology are associated (or correlated) with Jiangsu Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Financial Leasing has no effect on the direction of Cloud Live i.e., Cloud Live and Jiangsu Financial go up and down completely randomly.
Pair Corralation between Cloud Live and Jiangsu Financial
Assuming the 90 days trading horizon Cloud Live Technology is expected to under-perform the Jiangsu Financial. In addition to that, Cloud Live is 1.88 times more volatile than Jiangsu Financial Leasing. It trades about -0.01 of its total potential returns per unit of risk. Jiangsu Financial Leasing is currently generating about 0.02 per unit of volatility. If you would invest 513.00 in Jiangsu Financial Leasing on October 26, 2024 and sell it today you would earn a total of 13.00 from holding Jiangsu Financial Leasing or generate 2.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cloud Live Technology vs. Jiangsu Financial Leasing
Performance |
| Timeline |
| Cloud Live Technology |
| Jiangsu Financial Leasing |
Cloud Live and Jiangsu Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cloud Live and Jiangsu Financial
The main advantage of trading using opposite Cloud Live and Jiangsu Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cloud Live position performs unexpectedly, Jiangsu Financial 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 Financial will offset losses from the drop in Jiangsu Financial's long position.| Cloud Live vs. Kontour Medical Technology | Cloud Live vs. Fujian Wanchen Biotechnology | Cloud Live vs. Xiangyu Medical Co | Cloud Live vs. Zhongzhu Medical Holdings |
| Jiangsu Financial vs. Cloud Live Technology | Jiangsu Financial vs. Nanjing Putian Telecommunications | Jiangsu Financial vs. Shenzhen Coship Electronics | Jiangsu Financial vs. Shenzhen Hifuture Electric |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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