Correlation Between Suzhou Maxwell and Jilin Jlu
Specify exactly 2 symbols:
By analyzing existing cross correlation between Suzhou Maxwell Technologies and Jilin Jlu Communication, you can compare the effects of market volatilities on Suzhou Maxwell and Jilin Jlu 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 Suzhou Maxwell with a short position of Jilin Jlu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Maxwell and Jilin Jlu.
Diversification Opportunities for Suzhou Maxwell and Jilin Jlu
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Suzhou and Jilin is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Maxwell Technologies and Jilin Jlu Communication in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jilin Jlu Communication and Suzhou Maxwell 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 Suzhou Maxwell Technologies are associated (or correlated) with Jilin Jlu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jilin Jlu Communication has no effect on the direction of Suzhou Maxwell i.e., Suzhou Maxwell and Jilin Jlu go up and down completely randomly.
Pair Corralation between Suzhou Maxwell and Jilin Jlu
Assuming the 90 days trading horizon Suzhou Maxwell Technologies is expected to generate 1.02 times more return on investment than Jilin Jlu. However, Suzhou Maxwell is 1.02 times more volatile than Jilin Jlu Communication. It trades about 0.2 of its potential returns per unit of risk. Jilin Jlu Communication is currently generating about 0.1 per unit of risk. If you would invest 9,219 in Suzhou Maxwell Technologies on December 1, 2024 and sell it today you would earn a total of 770.00 from holding Suzhou Maxwell Technologies or generate 8.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 94.74% |
| Values | Daily Returns |
Suzhou Maxwell Technologies vs. Jilin Jlu Communication
Performance |
| Timeline |
| Suzhou Maxwell Techn |
| Jilin Jlu Communication |
Suzhou Maxwell and Jilin Jlu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Maxwell and Jilin Jlu
The main advantage of trading using opposite Suzhou Maxwell and Jilin Jlu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Maxwell position performs unexpectedly, Jilin Jlu 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 Jilin Jlu will offset losses from the drop in Jilin Jlu's long position.| Suzhou Maxwell vs. Juneyao Airlines | Suzhou Maxwell vs. Spring Airlines Co | Suzhou Maxwell vs. Luyin Investment Group | Suzhou Maxwell vs. Jiangsu Yanghe Brewery |
| Jilin Jlu vs. Markor International Home | Jilin Jlu vs. Ningbo Homelink Eco iTech | Jilin Jlu vs. Arrow Home Group | Jilin Jlu vs. Success Electronics |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Equity Valuation Check real value of public entities based on technical and fundamental data |