Correlation Between Bosera CMSK and Jiangsu GDK
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By analyzing existing cross correlation between Bosera CMSK Industrial and Jiangsu GDK Biotechnology, you can compare the effects of market volatilities on Bosera CMSK and Jiangsu GDK 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 Bosera CMSK with a short position of Jiangsu GDK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bosera CMSK and Jiangsu GDK.
Diversification Opportunities for Bosera CMSK and Jiangsu GDK
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bosera and Jiangsu is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding Bosera CMSK Industrial and Jiangsu GDK Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu GDK Biotechnology and Bosera CMSK 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 Bosera CMSK Industrial are associated (or correlated) with Jiangsu GDK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu GDK Biotechnology has no effect on the direction of Bosera CMSK i.e., Bosera CMSK and Jiangsu GDK go up and down completely randomly.
Pair Corralation between Bosera CMSK and Jiangsu GDK
Assuming the 90 days trading horizon Bosera CMSK Industrial is expected to generate 0.41 times more return on investment than Jiangsu GDK. However, Bosera CMSK Industrial is 2.45 times less risky than Jiangsu GDK. It trades about 0.51 of its potential returns per unit of risk. Jiangsu GDK Biotechnology is currently generating about -0.06 per unit of risk. If you would invest 203.00 in Bosera CMSK Industrial on November 3, 2024 and sell it today you would earn a total of 21.00 from holding Bosera CMSK Industrial or generate 10.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bosera CMSK Industrial vs. Jiangsu GDK Biotechnology
Performance |
| Timeline |
| Bosera CMSK Industrial |
| Jiangsu GDK Biotechnology |
Bosera CMSK and Jiangsu GDK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bosera CMSK and Jiangsu GDK
The main advantage of trading using opposite Bosera CMSK and Jiangsu GDK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bosera CMSK position performs unexpectedly, Jiangsu GDK 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 GDK will offset losses from the drop in Jiangsu GDK's long position.| Bosera CMSK vs. Shenzhen Topway Video | Bosera CMSK vs. Changzhou Evergreen Technology | Bosera CMSK vs. Kangping Technology Co | Bosera CMSK vs. Ye Chiu Metal |
| Jiangsu GDK vs. Kweichow Moutai Co | Jiangsu GDK vs. G bits Network Technology | Jiangsu GDK vs. Anhui Gujing Distillery | Jiangsu GDK vs. Anhui Gujing Distillery |
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 Directory module to find actively traded commodities issued by global exchanges.
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