Correlation Between Jilin Jlu and Vanfund Urban
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jilin Jlu Communication and Vanfund Urban Investment, you can compare the effects of market volatilities on Jilin Jlu and Vanfund Urban 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 Jilin Jlu with a short position of Vanfund Urban. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jilin Jlu and Vanfund Urban.
Diversification Opportunities for Jilin Jlu and Vanfund Urban
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jilin and Vanfund is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Jilin Jlu Communication and Vanfund Urban Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vanfund Urban Investment and Jilin Jlu 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 Jilin Jlu Communication are associated (or correlated) with Vanfund Urban. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vanfund Urban Investment has no effect on the direction of Jilin Jlu i.e., Jilin Jlu and Vanfund Urban go up and down completely randomly.
Pair Corralation between Jilin Jlu and Vanfund Urban
Assuming the 90 days trading horizon Jilin Jlu Communication is expected to under-perform the Vanfund Urban. But the stock apears to be less risky and, when comparing its historical volatility, Jilin Jlu Communication is 1.05 times less risky than Vanfund Urban. The stock trades about -0.01 of its potential returns per unit of risk. The Vanfund Urban Investment is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 466.00 in Vanfund Urban Investment on November 1, 2024 and sell it today you would earn a total of 28.00 from holding Vanfund Urban Investment or generate 6.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jilin Jlu Communication vs. Vanfund Urban Investment
Performance |
| Timeline |
| Jilin Jlu Communication |
| Vanfund Urban Investment |
Jilin Jlu and Vanfund Urban Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jilin Jlu and Vanfund Urban
The main advantage of trading using opposite Jilin Jlu and Vanfund Urban positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jilin Jlu position performs unexpectedly, Vanfund Urban 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 Vanfund Urban will offset losses from the drop in Vanfund Urban's long position.| Jilin Jlu vs. Zhangjiagang Elegant Home | Jilin Jlu vs. Eyebright Medical Technology | Jilin Jlu vs. Vohringer Home Technology | Jilin Jlu vs. Montage Technology Co |
| Vanfund Urban vs. Nanjing Putian Telecommunications | Vanfund Urban vs. Jiangxi Hengda Hi Tech | Vanfund Urban vs. Jilin Jlu Communication | Vanfund Urban vs. Lutian Machinery 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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios |