Correlation Between Haoxiangni Jujube and Jiangsu Flowers
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By analyzing existing cross correlation between Haoxiangni Jujube Co and Jiangsu Flowers King, you can compare the effects of market volatilities on Haoxiangni Jujube and Jiangsu Flowers 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 Haoxiangni Jujube with a short position of Jiangsu Flowers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Haoxiangni Jujube and Jiangsu Flowers.
Diversification Opportunities for Haoxiangni Jujube and Jiangsu Flowers
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Haoxiangni and Jiangsu is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding Haoxiangni Jujube Co and Jiangsu Flowers King in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Flowers King and Haoxiangni Jujube 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 Haoxiangni Jujube Co are associated (or correlated) with Jiangsu Flowers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Flowers King has no effect on the direction of Haoxiangni Jujube i.e., Haoxiangni Jujube and Jiangsu Flowers go up and down completely randomly.
Pair Corralation between Haoxiangni Jujube and Jiangsu Flowers
Assuming the 90 days trading horizon Haoxiangni Jujube Co is expected to generate 0.85 times more return on investment than Jiangsu Flowers. However, Haoxiangni Jujube Co is 1.17 times less risky than Jiangsu Flowers. It trades about 0.13 of its potential returns per unit of risk. Jiangsu Flowers King is currently generating about -0.02 per unit of risk. If you would invest 851.00 in Haoxiangni Jujube Co on October 25, 2024 and sell it today you would earn a total of 139.00 from holding Haoxiangni Jujube Co or generate 16.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Haoxiangni Jujube Co vs. Jiangsu Flowers King
Performance |
| Timeline |
| Haoxiangni Jujube |
| Jiangsu Flowers King |
Haoxiangni Jujube and Jiangsu Flowers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Haoxiangni Jujube and Jiangsu Flowers
The main advantage of trading using opposite Haoxiangni Jujube and Jiangsu Flowers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Haoxiangni Jujube position performs unexpectedly, Jiangsu Flowers 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 Flowers will offset losses from the drop in Jiangsu Flowers' long position.| Haoxiangni Jujube vs. Nanjing Putian Telecommunications | Haoxiangni Jujube vs. Shandong Sanyuan Biotechnology | Haoxiangni Jujube vs. Quectel Wireless Solutions | Haoxiangni Jujube vs. Dongfeng Automobile Co |
| Jiangsu Flowers vs. Servyou Software Group | Jiangsu Flowers vs. Guotai Epoint Software | Jiangsu Flowers vs. Linewell Software Co | Jiangsu Flowers vs. China Building Material |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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