Correlation Between Xinjiang Sailing and Dow Jones
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By analyzing existing cross correlation between Xinjiang Sailing Information and Dow Jones Industrial, you can compare the effects of market volatilities on Xinjiang Sailing 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 Xinjiang Sailing with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xinjiang Sailing and Dow Jones.
Diversification Opportunities for Xinjiang Sailing and Dow Jones
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Xinjiang and Dow is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Xinjiang Sailing Information 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 Xinjiang Sailing 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 Xinjiang Sailing Information 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 Xinjiang Sailing i.e., Xinjiang Sailing and Dow Jones go up and down completely randomly.
Pair Corralation between Xinjiang Sailing and Dow Jones
Assuming the 90 days trading horizon Xinjiang Sailing Information is expected to under-perform the Dow Jones. In addition to that, Xinjiang Sailing is 5.56 times more volatile than Dow Jones Industrial. It trades about -0.23 of its total potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.33 per unit of volatility. If you would invest 4,239,227 in Dow Jones Industrial on November 3, 2024 and sell it today you would earn a total of 215,239 from holding Dow Jones Industrial or generate 5.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
Xinjiang Sailing Information vs. Dow Jones Industrial
Performance |
| Timeline |
Xinjiang Sailing and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Xinjiang Sailing Information
Pair trading matchups for Xinjiang Sailing
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Xinjiang Sailing and Dow Jones
The main advantage of trading using opposite Xinjiang Sailing and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xinjiang Sailing 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.| Xinjiang Sailing vs. Cansino Biologics | Xinjiang Sailing vs. China World Trade | Xinjiang Sailing vs. Fiberhome Telecommunication Technologies | Xinjiang Sailing vs. Tonghua Grape Wine |
| Dow Jones vs. Rambler Metals and | Dow Jones vs. Nicola Mining | Dow Jones vs. Old Dominion Freight | Dow Jones vs. United Guardian |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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