Correlation Between Jiangsu Xinning and Jangho Group
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By analyzing existing cross correlation between Jiangsu Xinning Modern and Jangho Group Co, you can compare the effects of market volatilities on Jiangsu Xinning and Jangho Group 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 Jiangsu Xinning with a short position of Jangho Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Xinning and Jangho Group.
Diversification Opportunities for Jiangsu Xinning and Jangho Group
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jiangsu and Jangho is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Xinning Modern and Jangho Group Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jangho Group and Jiangsu Xinning 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 Jiangsu Xinning Modern are associated (or correlated) with Jangho Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jangho Group has no effect on the direction of Jiangsu Xinning i.e., Jiangsu Xinning and Jangho Group go up and down completely randomly.
Pair Corralation between Jiangsu Xinning and Jangho Group
Assuming the 90 days trading horizon Jiangsu Xinning Modern is expected to generate 1.89 times more return on investment than Jangho Group. However, Jiangsu Xinning is 1.89 times more volatile than Jangho Group Co. It trades about 0.19 of its potential returns per unit of risk. Jangho Group Co is currently generating about 0.13 per unit of risk. If you would invest 250.00 in Jiangsu Xinning Modern on September 3, 2024 and sell it today you would earn a total of 140.00 from holding Jiangsu Xinning Modern or generate 56.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Xinning Modern vs. Jangho Group Co
Performance |
| Timeline |
| Jiangsu Xinning Modern |
| Jangho Group |
Jiangsu Xinning and Jangho Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Xinning and Jangho Group
The main advantage of trading using opposite Jiangsu Xinning and Jangho Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Xinning position performs unexpectedly, Jangho Group 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 Jangho Group will offset losses from the drop in Jangho Group's long position.| Jiangsu Xinning vs. Caihong Display Devices | Jiangsu Xinning vs. China Sports Industry | Jiangsu Xinning vs. Western Metal Materials | Jiangsu Xinning vs. GRINM Semiconductor Materials |
| Jangho Group vs. BTG Hotels Group | Jangho Group vs. Tsingtao Brewery Co | Jangho Group vs. Jonjee Hi tech Industrial | Jangho Group vs. Juneyao Airlines |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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