Correlation Between Guilin Seamild and Jinling Hotel
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By analyzing existing cross correlation between Guilin Seamild Foods and Jinling Hotel Corp, you can compare the effects of market volatilities on Guilin Seamild and Jinling Hotel 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 Guilin Seamild with a short position of Jinling Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Jinling Hotel.
Diversification Opportunities for Guilin Seamild and Jinling Hotel
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Guilin and Jinling is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Jinling Hotel Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jinling Hotel Corp and Guilin Seamild 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 Guilin Seamild Foods are associated (or correlated) with Jinling Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jinling Hotel Corp has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Jinling Hotel go up and down completely randomly.
Pair Corralation between Guilin Seamild and Jinling Hotel
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 0.99 times more return on investment than Jinling Hotel. However, Guilin Seamild Foods is 1.01 times less risky than Jinling Hotel. It trades about 0.02 of its potential returns per unit of risk. Jinling Hotel Corp is currently generating about -0.03 per unit of risk. If you would invest 1,360 in Guilin Seamild Foods on October 16, 2024 and sell it today you would earn a total of 167.00 from holding Guilin Seamild Foods or generate 12.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Jinling Hotel Corp
Performance |
| Timeline |
| Guilin Seamild Foods |
| Jinling Hotel Corp |
Guilin Seamild and Jinling Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Jinling Hotel
The main advantage of trading using opposite Guilin Seamild and Jinling Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Jinling Hotel 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 Jinling Hotel will offset losses from the drop in Jinling Hotel's long position.| Guilin Seamild vs. Zoy Home Furnishing | Guilin Seamild vs. GUOMAI Culture Media | Guilin Seamild vs. Guangdong Jinma Entertainment | Guilin Seamild vs. Arrow Home Group |
| Jinling Hotel vs. Dongguan Tarry Electronics | Jinling Hotel vs. Aurora Optoelectronics Co | Jinling Hotel vs. TongFu Microelectronics Co | Jinling Hotel vs. Jiangyin Jianghua Microelectronics |
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 Stocks Directory module to find actively traded stocks across global markets.
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