Correlation Between Jilin Jlu and Harvest Fund
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By analyzing existing cross correlation between Jilin Jlu Communication and Harvest Fund Management, you can compare the effects of market volatilities on Jilin Jlu and Harvest Fund 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 Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jilin Jlu and Harvest Fund.
Diversification Opportunities for Jilin Jlu and Harvest Fund
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jilin and Harvest is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Jilin Jlu Communication and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management 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 Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Jilin Jlu i.e., Jilin Jlu and Harvest Fund go up and down completely randomly.
Pair Corralation between Jilin Jlu and Harvest Fund
Assuming the 90 days trading horizon Jilin Jlu Communication is expected to generate 2.34 times more return on investment than Harvest Fund. However, Jilin Jlu is 2.34 times more volatile than Harvest Fund Management. It trades about 0.02 of its potential returns per unit of risk. Harvest Fund Management is currently generating about -0.05 per unit of risk. If you would invest 967.00 in Jilin Jlu Communication on September 15, 2024 and sell it today you would earn a total of 32.00 from holding Jilin Jlu Communication or generate 3.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jilin Jlu Communication vs. Harvest Fund Management
Performance |
| Timeline |
| Jilin Jlu Communication |
| Harvest Fund Management |
Jilin Jlu and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jilin Jlu and Harvest Fund
The main advantage of trading using opposite Jilin Jlu and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jilin Jlu position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund's long position.| Jilin Jlu vs. Ming Yang Smart | Jilin Jlu vs. 159681 | Jilin Jlu vs. 159005 | Jilin Jlu vs. Loctek Ergonomic Technology |
| Harvest Fund vs. Miracll Chemicals Co | Harvest Fund vs. Do Fluoride Chemicals Co | Harvest Fund vs. Jilin Jlu Communication | Harvest Fund vs. XinJiang GuoTong Pipeline |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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