Correlation Between Jilin Jlu and Advanced Micro
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By analyzing existing cross correlation between Jilin Jlu Communication and Advanced Micro Fabrication, you can compare the effects of market volatilities on Jilin Jlu and Advanced Micro 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 Advanced Micro. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jilin Jlu and Advanced Micro.
Diversification Opportunities for Jilin Jlu and Advanced Micro
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jilin and Advanced is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Jilin Jlu Communication and Advanced Micro Fabrication in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Advanced Micro Fabri 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 Advanced Micro. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Advanced Micro Fabri has no effect on the direction of Jilin Jlu i.e., Jilin Jlu and Advanced Micro go up and down completely randomly.
Pair Corralation between Jilin Jlu and Advanced Micro
Assuming the 90 days trading horizon Jilin Jlu Communication is expected to generate 0.83 times more return on investment than Advanced Micro. However, Jilin Jlu Communication is 1.2 times less risky than Advanced Micro. It trades about 0.06 of its potential returns per unit of risk. Advanced Micro Fabrication is currently generating about -0.22 per unit of risk. If you would invest 990.00 in Jilin Jlu Communication on September 14, 2024 and sell it today you would earn a total of 26.00 from holding Jilin Jlu Communication or generate 2.63% 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. Advanced Micro Fabrication
Performance |
| Timeline |
| Jilin Jlu Communication |
| Advanced Micro Fabri |
Jilin Jlu and Advanced Micro Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jilin Jlu and Advanced Micro
The main advantage of trading using opposite Jilin Jlu and Advanced Micro positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jilin Jlu position performs unexpectedly, Advanced Micro 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 Advanced Micro will offset losses from the drop in Advanced Micro's long position.| Jilin Jlu vs. Lootom Telcovideo Network | Jilin Jlu vs. Hainan Haiqi Transportation | Jilin Jlu vs. China Sports Industry | Jilin Jlu vs. Unisplendour Corp |
| Advanced Micro vs. Longmaster Information Tech | Advanced Micro vs. YLZ Information Tech | Advanced Micro vs. AVCON Information Tech | Advanced Micro vs. Holitech Technology 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 Transaction History module to view history of all your transactions and understand their impact on performance.
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