Correlation Between Jiangsu Jinling and Harvest Fund
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By analyzing existing cross correlation between Jiangsu Jinling Sports and Harvest Fund Management, you can compare the effects of market volatilities on Jiangsu Jinling 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 Jiangsu Jinling with a short position of Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Jinling and Harvest Fund.
Diversification Opportunities for Jiangsu Jinling and Harvest Fund
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jiangsu and Harvest is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Jinling Sports 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 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 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 Jiangsu Jinling i.e., Jiangsu Jinling and Harvest Fund go up and down completely randomly.
Pair Corralation between Jiangsu Jinling and Harvest Fund
Assuming the 90 days trading horizon Jiangsu Jinling Sports is expected to generate 2.41 times more return on investment than Harvest Fund. However, Jiangsu Jinling is 2.41 times more volatile than Harvest Fund Management. It trades about -0.01 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 2,163 in Jiangsu Jinling Sports on September 13, 2024 and sell it today you would lose (646.00) from holding Jiangsu Jinling Sports or give up 29.87% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 94.33% |
| Values | Daily Returns |
Jiangsu Jinling Sports vs. Harvest Fund Management
Performance |
| Timeline |
| Jiangsu Jinling Sports |
| Harvest Fund Management |
Jiangsu Jinling and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Jinling and Harvest Fund
The main advantage of trading using opposite Jiangsu Jinling and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Jinling 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.| Jiangsu Jinling vs. Lutian Machinery Co | Jiangsu Jinling vs. China Longyuan Power | Jiangsu Jinling vs. PetroChina Co Ltd | Jiangsu Jinling vs. Bank of China |
| Harvest Fund vs. Hunan TV Broadcast | Harvest Fund vs. Jiangsu Jinling Sports | Harvest Fund vs. Zhongshan Broad Ocean Motor | Harvest Fund vs. Shandong Hi Speed RoadBridge |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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