Correlation Between Jilin Jlu and Sino Platinum
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By analyzing existing cross correlation between Jilin Jlu Communication and Sino Platinum Metals Co, you can compare the effects of market volatilities on Jilin Jlu and Sino Platinum 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 Sino Platinum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jilin Jlu and Sino Platinum.
Diversification Opportunities for Jilin Jlu and Sino Platinum
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jilin and Sino is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Jilin Jlu Communication and Sino Platinum Metals Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sino Platinum Metals 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 Sino Platinum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sino Platinum Metals has no effect on the direction of Jilin Jlu i.e., Jilin Jlu and Sino Platinum go up and down completely randomly.
Pair Corralation between Jilin Jlu and Sino Platinum
Assuming the 90 days trading horizon Jilin Jlu Communication is expected to generate 1.65 times more return on investment than Sino Platinum. However, Jilin Jlu is 1.65 times more volatile than Sino Platinum Metals Co. It trades about 0.03 of its potential returns per unit of risk. Sino Platinum Metals Co is currently generating about 0.01 per unit of risk. If you would invest 797.00 in Jilin Jlu Communication on September 3, 2024 and sell it today you would earn a total of 161.00 from holding Jilin Jlu Communication or generate 20.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jilin Jlu Communication vs. Sino Platinum Metals Co
Performance |
| Timeline |
| Jilin Jlu Communication |
| Sino Platinum Metals |
Jilin Jlu and Sino Platinum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jilin Jlu and Sino Platinum
The main advantage of trading using opposite Jilin Jlu and Sino Platinum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jilin Jlu position performs unexpectedly, Sino Platinum 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 Sino Platinum will offset losses from the drop in Sino Platinum's long position.| Jilin Jlu vs. Caihong Display Devices | Jilin Jlu vs. Linewell Software Co | Jilin Jlu vs. China Sports Industry | Jilin Jlu vs. Dhc Software Co |
| Sino Platinum vs. Zijin Mining Group | Sino Platinum vs. Baoshan Iron Steel | Sino Platinum vs. Rongsheng Petrochemical Co | Sino Platinum vs. Hoshine Silicon Ind |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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