Correlation Between Jinxiandai Information and Kweichow Moutai
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By analyzing existing cross correlation between Jinxiandai Information Industry and Kweichow Moutai Co, you can compare the effects of market volatilities on Jinxiandai Information and Kweichow Moutai 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 Jinxiandai Information with a short position of Kweichow Moutai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jinxiandai Information and Kweichow Moutai.
Diversification Opportunities for Jinxiandai Information and Kweichow Moutai
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Jinxiandai and Kweichow is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Jinxiandai Information Industr and Kweichow Moutai Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kweichow Moutai and Jinxiandai Information 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 Jinxiandai Information Industry are associated (or correlated) with Kweichow Moutai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kweichow Moutai has no effect on the direction of Jinxiandai Information i.e., Jinxiandai Information and Kweichow Moutai go up and down completely randomly.
Pair Corralation between Jinxiandai Information and Kweichow Moutai
Assuming the 90 days trading horizon Jinxiandai Information Industry is expected to generate 4.38 times more return on investment than Kweichow Moutai. However, Jinxiandai Information is 4.38 times more volatile than Kweichow Moutai Co. It trades about 0.16 of its potential returns per unit of risk. Kweichow Moutai Co is currently generating about -0.18 per unit of risk. If you would invest 791.00 in Jinxiandai Information Industry on November 3, 2024 and sell it today you would earn a total of 101.00 from holding Jinxiandai Information Industry or generate 12.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jinxiandai Information Industr vs. Kweichow Moutai Co
Performance |
| Timeline |
| Jinxiandai Information |
| Kweichow Moutai |
Jinxiandai Information and Kweichow Moutai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jinxiandai Information and Kweichow Moutai
The main advantage of trading using opposite Jinxiandai Information and Kweichow Moutai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jinxiandai Information position performs unexpectedly, Kweichow Moutai 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 Kweichow Moutai will offset losses from the drop in Kweichow Moutai's long position.| Jinxiandai Information vs. Anji Foodstuff Co | Jinxiandai Information vs. Qingdao Foods Co | Jinxiandai Information vs. V V Food | Jinxiandai Information vs. Bohai Leasing Co |
| Kweichow Moutai vs. Fujian Wanchen Biotechnology | Kweichow Moutai vs. Shaanxi Meineng Clean | Kweichow Moutai vs. Yili Chuanning Biotechnology | Kweichow Moutai vs. Kingclean Electric 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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