Correlation Between Guangdong Silvere and Jadard Technology
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By analyzing existing cross correlation between Guangdong Silvere Sci and Jadard Technology A, you can compare the effects of market volatilities on Guangdong Silvere and Jadard Technology 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 Guangdong Silvere with a short position of Jadard Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangdong Silvere and Jadard Technology.
Diversification Opportunities for Guangdong Silvere and Jadard Technology
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Guangdong and Jadard is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Silvere Sci and Jadard Technology A in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jadard Technology and Guangdong Silvere 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 Guangdong Silvere Sci are associated (or correlated) with Jadard Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jadard Technology has no effect on the direction of Guangdong Silvere i.e., Guangdong Silvere and Jadard Technology go up and down completely randomly.
Pair Corralation between Guangdong Silvere and Jadard Technology
Assuming the 90 days trading horizon Guangdong Silvere Sci is expected to generate 1.04 times more return on investment than Jadard Technology. However, Guangdong Silvere is 1.04 times more volatile than Jadard Technology A. It trades about 0.11 of its potential returns per unit of risk. Jadard Technology A is currently generating about 0.01 per unit of risk. If you would invest 658.00 in Guangdong Silvere Sci on September 13, 2024 and sell it today you would earn a total of 38.00 from holding Guangdong Silvere Sci or generate 5.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.65% |
| Values | Daily Returns |
Guangdong Silvere Sci vs. Jadard Technology A
Performance |
| Timeline |
| Guangdong Silvere Sci |
| Jadard Technology |
Guangdong Silvere and Jadard Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangdong Silvere and Jadard Technology
The main advantage of trading using opposite Guangdong Silvere and Jadard Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangdong Silvere position performs unexpectedly, Jadard Technology 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 Jadard Technology will offset losses from the drop in Jadard Technology's long position.| Guangdong Silvere vs. Beijing Mainstreets Investment | Guangdong Silvere vs. Shenzhen Centralcon Investment | Guangdong Silvere vs. China Asset Management | Guangdong Silvere vs. HeNan Splendor Science |
| Jadard Technology vs. Dr Peng Telecom | Jadard Technology vs. Zhengzhou Coal Mining | Jadard Technology vs. Shenzhen Kexin Communication | Jadard Technology vs. Guangdong Silvere Sci |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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