Correlation Between Jiangsu Hoperun and East Money
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiangsu Hoperun Software and East Money Information, you can compare the effects of market volatilities on Jiangsu Hoperun and East Money 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 Hoperun with a short position of East Money. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Hoperun and East Money.
Diversification Opportunities for Jiangsu Hoperun and East Money
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jiangsu and East is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Hoperun Software and East Money Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on East Money Information and Jiangsu Hoperun 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 Hoperun Software are associated (or correlated) with East Money. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of East Money Information has no effect on the direction of Jiangsu Hoperun i.e., Jiangsu Hoperun and East Money go up and down completely randomly.
Pair Corralation between Jiangsu Hoperun and East Money
Assuming the 90 days trading horizon Jiangsu Hoperun Software is expected to generate 1.49 times more return on investment than East Money. However, Jiangsu Hoperun is 1.49 times more volatile than East Money Information. It trades about 0.14 of its potential returns per unit of risk. East Money Information is currently generating about 0.05 per unit of risk. If you would invest 4,420 in Jiangsu Hoperun Software on November 6, 2024 and sell it today you would earn a total of 362.00 from holding Jiangsu Hoperun Software or generate 8.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Hoperun Software vs. East Money Information
Performance |
| Timeline |
| Jiangsu Hoperun Software |
| East Money Information |
Jiangsu Hoperun and East Money Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Hoperun and East Money
The main advantage of trading using opposite Jiangsu Hoperun and East Money positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Hoperun position performs unexpectedly, East Money 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 East Money will offset losses from the drop in East Money's long position.| Jiangsu Hoperun vs. Jilin Jlu Communication | Jiangsu Hoperun vs. Guangzhou Haige Communications | Jiangsu Hoperun vs. Shenzhen Topway Video | Jiangsu Hoperun vs. Allwin Telecommunication Co |
| East Money vs. XinJiang GuoTong Pipeline | East Money vs. Simei Media Co | East Money vs. GUOMAI Culture Media | East Money vs. Air China Ltd |
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.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |