Correlation Between Bank of Suzhou and JCHX Mining
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By analyzing existing cross correlation between Bank of Suzhou and JCHX Mining Management, you can compare the effects of market volatilities on Bank of Suzhou and JCHX Mining 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 Bank of Suzhou with a short position of JCHX Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank of Suzhou and JCHX Mining.
Diversification Opportunities for Bank of Suzhou and JCHX Mining
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bank and JCHX is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Bank of Suzhou and JCHX Mining Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JCHX Mining Management and Bank of Suzhou 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 Bank of Suzhou are associated (or correlated) with JCHX Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JCHX Mining Management has no effect on the direction of Bank of Suzhou i.e., Bank of Suzhou and JCHX Mining go up and down completely randomly.
Pair Corralation between Bank of Suzhou and JCHX Mining
Assuming the 90 days trading horizon Bank of Suzhou is expected to generate 2.46 times less return on investment than JCHX Mining. But when comparing it to its historical volatility, Bank of Suzhou is 1.63 times less risky than JCHX Mining. It trades about 0.03 of its potential returns per unit of risk. JCHX Mining Management is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 2,904 in JCHX Mining Management on October 16, 2024 and sell it today you would earn a total of 1,195 from holding JCHX Mining Management or generate 41.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bank of Suzhou vs. JCHX Mining Management
Performance |
| Timeline |
| Bank of Suzhou |
| JCHX Mining Management |
Bank of Suzhou and JCHX Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank of Suzhou and JCHX Mining
The main advantage of trading using opposite Bank of Suzhou and JCHX Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank of Suzhou position performs unexpectedly, JCHX Mining 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 JCHX Mining will offset losses from the drop in JCHX Mining's long position.| Bank of Suzhou vs. Threes Company Media | Bank of Suzhou vs. Anhui Xinhua Media | Bank of Suzhou vs. Shuhua Sports Co | Bank of Suzhou vs. HanS Laser Tech |
| JCHX Mining vs. Wuhan Yangtze Communication | JCHX Mining vs. Zoy Home Furnishing | JCHX Mining vs. Qumei Furniture Group | JCHX Mining vs. Easyhome New Retail |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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