Correlation Between Zhejiang Construction and Jiangsu Jiejie
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By analyzing existing cross correlation between Zhejiang Construction Investment and Jiangsu Jiejie Microelectronics, you can compare the effects of market volatilities on Zhejiang Construction and Jiangsu Jiejie 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 Zhejiang Construction with a short position of Jiangsu Jiejie. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zhejiang Construction and Jiangsu Jiejie.
Diversification Opportunities for Zhejiang Construction and Jiangsu Jiejie
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Zhejiang and Jiangsu is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Construction Investme and Jiangsu Jiejie Microelectronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Jiejie Micro and Zhejiang Construction 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 Zhejiang Construction Investment are associated (or correlated) with Jiangsu Jiejie. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Jiejie Micro has no effect on the direction of Zhejiang Construction i.e., Zhejiang Construction and Jiangsu Jiejie go up and down completely randomly.
Pair Corralation between Zhejiang Construction and Jiangsu Jiejie
If you would invest 819.00 in Zhejiang Construction Investment on November 4, 2024 and sell it today you would earn a total of 1.00 from holding Zhejiang Construction Investment or generate 0.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.56% |
| Values | Daily Returns |
Zhejiang Construction Investme vs. Jiangsu Jiejie Microelectronic
Performance |
| Timeline |
| Zhejiang Construction |
| Jiangsu Jiejie Micro |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Zhejiang Construction and Jiangsu Jiejie Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zhejiang Construction and Jiangsu Jiejie
The main advantage of trading using opposite Zhejiang Construction and Jiangsu Jiejie positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zhejiang Construction position performs unexpectedly, Jiangsu Jiejie 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 Jiejie will offset losses from the drop in Jiangsu Jiejie's long position.| Zhejiang Construction vs. Shenzhen SDG Information | Zhejiang Construction vs. Xinjiang Baodi Mining | Zhejiang Construction vs. Western Metal Materials | Zhejiang Construction vs. YLZ Information Tech |
| Jiangsu Jiejie vs. Semiconductor Manufacturing Intl | Jiangsu Jiejie vs. Hubei Tech Semiconductors | Jiangsu Jiejie vs. Yuanjie Semiconductor Technology | Jiangsu Jiejie vs. Qingdao Foods 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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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