Correlation Between Jiangsu Hoperun and Dow Jones
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By analyzing existing cross correlation between Jiangsu Hoperun Software and Dow Jones Industrial, you can compare the effects of market volatilities on Jiangsu Hoperun and Dow Jones 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 Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Hoperun and Dow Jones.
Diversification Opportunities for Jiangsu Hoperun and Dow Jones
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Jiangsu and Dow is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Hoperun Software and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial 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 Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Jiangsu Hoperun i.e., Jiangsu Hoperun and Dow Jones go up and down completely randomly.
Pair Corralation between Jiangsu Hoperun and Dow Jones
Assuming the 90 days trading horizon Jiangsu Hoperun Software is expected to under-perform the Dow Jones. In addition to that, Jiangsu Hoperun is 4.94 times more volatile than Dow Jones Industrial. It trades about -0.15 of its total potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.05 per unit of volatility. If you would invest 4,372,993 in Dow Jones Industrial on November 6, 2024 and sell it today you would earn a total of 82,611 from holding Dow Jones Industrial or generate 1.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 96.72% |
| Values | Daily Returns |
Jiangsu Hoperun Software vs. Dow Jones Industrial
Performance |
| Timeline |
Jiangsu Hoperun and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Jiangsu Hoperun Software
Pair trading matchups for Jiangsu Hoperun
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Jiangsu Hoperun and Dow Jones
The main advantage of trading using opposite Jiangsu Hoperun and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Hoperun position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' 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 |
| Dow Jones vs. Mako Mining Corp | Dow Jones vs. Reyna Silver Corp | Dow Jones vs. Perseus Mining Limited | Dow Jones vs. Trupanion |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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