Correlation Between Xiamen Jihong and Linktel Technologies
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By analyzing existing cross correlation between Xiamen Jihong Package and Linktel Technologies Co, you can compare the effects of market volatilities on Xiamen Jihong and Linktel Technologies 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 Xiamen Jihong with a short position of Linktel Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xiamen Jihong and Linktel Technologies.
Diversification Opportunities for Xiamen Jihong and Linktel Technologies
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between Xiamen and Linktel is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Xiamen Jihong Package and Linktel Technologies Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Linktel Technologies and Xiamen Jihong 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 Xiamen Jihong Package are associated (or correlated) with Linktel Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Linktel Technologies has no effect on the direction of Xiamen Jihong i.e., Xiamen Jihong and Linktel Technologies go up and down completely randomly.
Pair Corralation between Xiamen Jihong and Linktel Technologies
Assuming the 90 days trading horizon Xiamen Jihong Package is expected to under-perform the Linktel Technologies. But the stock apears to be less risky and, when comparing its historical volatility, Xiamen Jihong Package is 1.68 times less risky than Linktel Technologies. The stock trades about 0.0 of its potential returns per unit of risk. The Linktel Technologies Co is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 3,364 in Linktel Technologies Co on October 30, 2024 and sell it today you would earn a total of 4,769 from holding Linktel Technologies Co or generate 141.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xiamen Jihong Package vs. Linktel Technologies Co
Performance |
| Timeline |
| Xiamen Jihong Package |
| Linktel Technologies |
Xiamen Jihong and Linktel Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xiamen Jihong and Linktel Technologies
The main advantage of trading using opposite Xiamen Jihong and Linktel Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xiamen Jihong position performs unexpectedly, Linktel Technologies 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 Linktel Technologies will offset losses from the drop in Linktel Technologies' long position.| Xiamen Jihong vs. Caihong Display Devices | Xiamen Jihong vs. Unisplendour Corp | Xiamen Jihong vs. Zhejiang JIULI Hi tech | Xiamen Jihong vs. Kuang Chi Technologies |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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