Correlation Between Nsfocus Information and Beijing Jiaman
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By analyzing existing cross correlation between Nsfocus Information Technology and Beijing Jiaman Dress, you can compare the effects of market volatilities on Nsfocus Information and Beijing Jiaman 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 Nsfocus Information with a short position of Beijing Jiaman. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nsfocus Information and Beijing Jiaman.
Diversification Opportunities for Nsfocus Information and Beijing Jiaman
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Nsfocus and Beijing is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Nsfocus Information Technology and Beijing Jiaman Dress in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Jiaman Dress and Nsfocus Information 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 Nsfocus Information Technology are associated (or correlated) with Beijing Jiaman. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Jiaman Dress has no effect on the direction of Nsfocus Information i.e., Nsfocus Information and Beijing Jiaman go up and down completely randomly.
Pair Corralation between Nsfocus Information and Beijing Jiaman
Assuming the 90 days trading horizon Nsfocus Information Technology is expected to under-perform the Beijing Jiaman. In addition to that, Nsfocus Information is 1.61 times more volatile than Beijing Jiaman Dress. It trades about -0.03 of its total potential returns per unit of risk. Beijing Jiaman Dress is currently generating about -0.01 per unit of volatility. If you would invest 2,434 in Beijing Jiaman Dress on October 13, 2024 and sell it today you would lose (523.00) from holding Beijing Jiaman Dress or give up 21.49% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Nsfocus Information Technology vs. Beijing Jiaman Dress
Performance |
| Timeline |
| Nsfocus Information |
| Beijing Jiaman Dress |
Nsfocus Information and Beijing Jiaman Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nsfocus Information and Beijing Jiaman
The main advantage of trading using opposite Nsfocus Information and Beijing Jiaman positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nsfocus Information position performs unexpectedly, Beijing Jiaman 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 Beijing Jiaman will offset losses from the drop in Beijing Jiaman's long position.| Nsfocus Information vs. Beijing Jiaman Dress | Nsfocus Information vs. Sunny Loan Top | Nsfocus Information vs. Nanjing Vishee Medical | Nsfocus Information vs. Chahua Modern Housewares |
| Beijing Jiaman vs. Postal Savings Bank | Beijing Jiaman vs. Beijing Mainstreets Investment | Beijing Jiaman vs. Aofu Environmental Technology | Beijing Jiaman vs. Qiaoyin Environmental Tech |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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