Correlation Between Jiangsu Jinling and Emdoor Information
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By analyzing existing cross correlation between Jiangsu Jinling Sports and Emdoor Information Co, you can compare the effects of market volatilities on Jiangsu Jinling and Emdoor Information 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 Jiangsu Jinling with a short position of Emdoor Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Jinling and Emdoor Information.
Diversification Opportunities for Jiangsu Jinling and Emdoor Information
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Jiangsu and Emdoor is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Jinling Sports and Emdoor Information Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Emdoor Information and Jiangsu Jinling 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 Jiangsu Jinling Sports are associated (or correlated) with Emdoor Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Emdoor Information has no effect on the direction of Jiangsu Jinling i.e., Jiangsu Jinling and Emdoor Information go up and down completely randomly.
Pair Corralation between Jiangsu Jinling and Emdoor Information
Assuming the 90 days trading horizon Jiangsu Jinling Sports is expected to under-perform the Emdoor Information. But the stock apears to be less risky and, when comparing its historical volatility, Jiangsu Jinling Sports is 1.26 times less risky than Emdoor Information. The stock trades about -0.22 of its potential returns per unit of risk. The Emdoor Information Co is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 4,961 in Emdoor Information Co on October 17, 2024 and sell it today you would lose (388.00) from holding Emdoor Information Co or give up 7.82% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Jinling Sports vs. Emdoor Information Co
Performance |
| Timeline |
| Jiangsu Jinling Sports |
| Emdoor Information |
Jiangsu Jinling and Emdoor Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Jinling and Emdoor Information
The main advantage of trading using opposite Jiangsu Jinling and Emdoor Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Jinling position performs unexpectedly, Emdoor Information 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 Emdoor Information will offset losses from the drop in Emdoor Information's long position.| Jiangsu Jinling vs. Hunan Mendale Hometextile | Jiangsu Jinling vs. Qumei Furniture Group | Jiangsu Jinling vs. Jiangxi Hengda Hi Tech | Jiangsu Jinling vs. DO Home Collection |
| Emdoor Information vs. Jiangsu Financial Leasing | Emdoor Information vs. Jiugui Liquor Co | Emdoor Information vs. Sino Platinum Metals Co | Emdoor Information vs. Jinhui Liquor 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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