Correlation Between Sichuan Jinshi and Accelink Technologies
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By analyzing existing cross correlation between Sichuan Jinshi Technology and Accelink Technologies Co, you can compare the effects of market volatilities on Sichuan Jinshi and Accelink 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 Sichuan Jinshi with a short position of Accelink Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sichuan Jinshi and Accelink Technologies.
Diversification Opportunities for Sichuan Jinshi and Accelink Technologies
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Sichuan and Accelink is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Sichuan Jinshi Technology and Accelink Technologies Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Accelink Technologies and Sichuan Jinshi 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 Sichuan Jinshi Technology are associated (or correlated) with Accelink Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Accelink Technologies has no effect on the direction of Sichuan Jinshi i.e., Sichuan Jinshi and Accelink Technologies go up and down completely randomly.
Pair Corralation between Sichuan Jinshi and Accelink Technologies
Assuming the 90 days trading horizon Sichuan Jinshi Technology is expected to generate 0.73 times more return on investment than Accelink Technologies. However, Sichuan Jinshi Technology is 1.36 times less risky than Accelink Technologies. It trades about -0.01 of its potential returns per unit of risk. Accelink Technologies Co is currently generating about -0.09 per unit of risk. If you would invest 676.00 in Sichuan Jinshi Technology on October 25, 2024 and sell it today you would lose (9.00) from holding Sichuan Jinshi Technology or give up 1.33% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Sichuan Jinshi Technology vs. Accelink Technologies Co
Performance |
| Timeline |
| Sichuan Jinshi Technology |
| Accelink Technologies |
Sichuan Jinshi and Accelink Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sichuan Jinshi and Accelink Technologies
The main advantage of trading using opposite Sichuan Jinshi and Accelink Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sichuan Jinshi position performs unexpectedly, Accelink 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 Accelink Technologies will offset losses from the drop in Accelink Technologies' long position.| Sichuan Jinshi vs. Zijin Mining Group | Sichuan Jinshi vs. Wanhua Chemical Group | Sichuan Jinshi vs. Baoshan Iron Steel | Sichuan Jinshi vs. Rongsheng Petrochemical 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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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