Correlation Between Jinzai Food and Industrial
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By analyzing existing cross correlation between Jinzai Food Group and Industrial and Commercial, you can compare the effects of market volatilities on Jinzai Food and Industrial 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 Jinzai Food with a short position of Industrial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jinzai Food and Industrial.
Diversification Opportunities for Jinzai Food and Industrial
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jinzai and Industrial is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Jinzai Food Group and Industrial and Commercial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Industrial and Commercial and Jinzai Food 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 Jinzai Food Group are associated (or correlated) with Industrial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Industrial and Commercial has no effect on the direction of Jinzai Food i.e., Jinzai Food and Industrial go up and down completely randomly.
Pair Corralation between Jinzai Food and Industrial
Assuming the 90 days trading horizon Jinzai Food Group is expected to under-perform the Industrial. In addition to that, Jinzai Food is 2.17 times more volatile than Industrial and Commercial. It trades about -0.17 of its total potential returns per unit of risk. Industrial and Commercial is currently generating about -0.19 per unit of volatility. If you would invest 678.00 in Industrial and Commercial on October 25, 2024 and sell it today you would lose (34.00) from holding Industrial and Commercial or give up 5.01% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jinzai Food Group vs. Industrial and Commercial
Performance |
| Timeline |
| Jinzai Food Group |
| Industrial and Commercial |
Jinzai Food and Industrial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jinzai Food and Industrial
The main advantage of trading using opposite Jinzai Food and Industrial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jinzai Food position performs unexpectedly, Industrial 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 Industrial will offset losses from the drop in Industrial's long position.| Jinzai Food vs. Agricultural Bank of | Jinzai Food vs. Postal Savings Bank | Jinzai Food vs. Bank of Communications | Jinzai Food vs. China Merchants Bank |
| Industrial vs. Touchstone International Medical | Industrial vs. Dazhong Transportation Group | Industrial vs. Shenzhen Topway Video | Industrial vs. Allgens Medical Technology |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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