Correlation Between Jiangsu Hoperun and Cultural Investment
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiangsu Hoperun Software and Cultural Investment Holdings, you can compare the effects of market volatilities on Jiangsu Hoperun and Cultural Investment 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 Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Hoperun and Cultural Investment.
Diversification Opportunities for Jiangsu Hoperun and Cultural Investment
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Jiangsu and Cultural is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Hoperun Software and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural Investment 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 Cultural Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cultural Investment has no effect on the direction of Jiangsu Hoperun i.e., Jiangsu Hoperun and Cultural Investment go up and down completely randomly.
Pair Corralation between Jiangsu Hoperun and Cultural Investment
Assuming the 90 days trading horizon Jiangsu Hoperun Software is expected to generate 1.15 times more return on investment than Cultural Investment. However, Jiangsu Hoperun is 1.15 times more volatile than Cultural Investment Holdings. It trades about 0.06 of its potential returns per unit of risk. Cultural Investment Holdings is currently generating about 0.01 per unit of risk. If you would invest 2,059 in Jiangsu Hoperun Software on October 14, 2024 and sell it today you would earn a total of 2,447 from holding Jiangsu Hoperun Software or generate 118.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Hoperun Software vs. Cultural Investment Holdings
Performance |
| Timeline |
| Jiangsu Hoperun Software |
| Cultural Investment |
Jiangsu Hoperun and Cultural Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Hoperun and Cultural Investment
The main advantage of trading using opposite Jiangsu Hoperun and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Hoperun position performs unexpectedly, Cultural Investment 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 Cultural Investment will offset losses from the drop in Cultural Investment's long position.| Jiangsu Hoperun vs. Chongqing Brewery Co | Jiangsu Hoperun vs. Guangzhou Zhujiang Brewery | Jiangsu Hoperun vs. Youngy Health Co | Jiangsu Hoperun vs. Dezhan HealthCare Co |
| Cultural Investment vs. Shuhua Sports Co | Cultural Investment vs. Jiangsu Hoperun Software | Cultural Investment vs. Sportsoul Co Ltd | Cultural Investment vs. Dareway Software Co |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
Other Complementary Tools
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| CEOs Directory Screen CEOs from public companies around the world |