Correlation Between Maxvision Technology and Jiangsu Financial
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By analyzing existing cross correlation between Maxvision Technology Corp and Jiangsu Financial Leasing, you can compare the effects of market volatilities on Maxvision Technology and Jiangsu Financial 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 Maxvision Technology with a short position of Jiangsu Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maxvision Technology and Jiangsu Financial.
Diversification Opportunities for Maxvision Technology and Jiangsu Financial
0.03 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Maxvision and Jiangsu is 0.03. Overlapping area represents the amount of risk that can be diversified away by holding Maxvision Technology Corp and Jiangsu Financial Leasing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Financial Leasing and Maxvision Technology 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 Maxvision Technology Corp are associated (or correlated) with Jiangsu Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Financial Leasing has no effect on the direction of Maxvision Technology i.e., Maxvision Technology and Jiangsu Financial go up and down completely randomly.
Pair Corralation between Maxvision Technology and Jiangsu Financial
Assuming the 90 days trading horizon Maxvision Technology Corp is expected to generate 2.15 times more return on investment than Jiangsu Financial. However, Maxvision Technology is 2.15 times more volatile than Jiangsu Financial Leasing. It trades about 0.03 of its potential returns per unit of risk. Jiangsu Financial Leasing is currently generating about -0.01 per unit of risk. If you would invest 2,295 in Maxvision Technology Corp on November 6, 2024 and sell it today you would earn a total of 48.00 from holding Maxvision Technology Corp or generate 2.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Maxvision Technology Corp vs. Jiangsu Financial Leasing
Performance |
| Timeline |
| Maxvision Technology Corp |
| Jiangsu Financial Leasing |
Maxvision Technology and Jiangsu Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maxvision Technology and Jiangsu Financial
The main advantage of trading using opposite Maxvision Technology and Jiangsu Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maxvision Technology position performs unexpectedly, Jiangsu Financial 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 Financial will offset losses from the drop in Jiangsu Financial's long position.| Maxvision Technology vs. Nuode Investment Co | Maxvision Technology vs. Zhejiang Huatong Meat | Maxvision Technology vs. Luyin Investment Group | Maxvision Technology vs. Eastroc Beverage Group |
| Jiangsu Financial vs. Gansu Huangtai Wine marketing | Jiangsu Financial vs. Shaanxi Energy Investment | Jiangsu Financial vs. Easyhome New Retail | Jiangsu Financial vs. Uroica Mining Safety |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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