Correlation Between Silkroad Visual and Jiajia Food
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By analyzing existing cross correlation between Silkroad Visual Technology and Jiajia Food Group, you can compare the effects of market volatilities on Silkroad Visual and Jiajia Food 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 Silkroad Visual with a short position of Jiajia Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of Silkroad Visual and Jiajia Food.
Diversification Opportunities for Silkroad Visual and Jiajia Food
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Silkroad and Jiajia is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Silkroad Visual Technology and Jiajia Food Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiajia Food Group and Silkroad Visual 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 Silkroad Visual Technology are associated (or correlated) with Jiajia Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiajia Food Group has no effect on the direction of Silkroad Visual i.e., Silkroad Visual and Jiajia Food go up and down completely randomly.
Pair Corralation between Silkroad Visual and Jiajia Food
Assuming the 90 days trading horizon Silkroad Visual Technology is expected to under-perform the Jiajia Food. In addition to that, Silkroad Visual is 1.28 times more volatile than Jiajia Food Group. It trades about -0.02 of its total potential returns per unit of risk. Jiajia Food Group is currently generating about 0.03 per unit of volatility. If you would invest 405.00 in Jiajia Food Group on October 30, 2024 and sell it today you would earn a total of 68.00 from holding Jiajia Food Group or generate 16.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Silkroad Visual Technology vs. Jiajia Food Group
Performance |
| Timeline |
| Silkroad Visual Tech |
| Jiajia Food Group |
Silkroad Visual and Jiajia Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Silkroad Visual and Jiajia Food
The main advantage of trading using opposite Silkroad Visual and Jiajia Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Silkroad Visual position performs unexpectedly, Jiajia Food 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 Jiajia Food will offset losses from the drop in Jiajia Food's long position.| Silkroad Visual vs. Jiangsu Xinri E Vehicle | Silkroad Visual vs. Guangzhou Automobile Group | Silkroad Visual vs. Anhui Jianghuai Automobile | Silkroad Visual vs. Semiconductor Manufacturing Electronics |
| Jiajia Food vs. Zhejiang Yinlun Machinery | Jiajia Food vs. Andon Health Co | Jiajia Food vs. Guangzhou KDT Machinery | Jiajia Food vs. Meinian Onehealth Healthcare |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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