Correlation Between Jinxiandai Information and Chengdu B
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By analyzing existing cross correlation between Jinxiandai Information Industry and Chengdu B ray Media, you can compare the effects of market volatilities on Jinxiandai Information and Chengdu B 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 Chengdu B. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jinxiandai Information and Chengdu B.
Diversification Opportunities for Jinxiandai Information and Chengdu B
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jinxiandai and Chengdu is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Jinxiandai Information Industr and Chengdu B ray Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chengdu B ray 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 Chengdu B. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chengdu B ray has no effect on the direction of Jinxiandai Information i.e., Jinxiandai Information and Chengdu B go up and down completely randomly.
Pair Corralation between Jinxiandai Information and Chengdu B
Assuming the 90 days trading horizon Jinxiandai Information Industry is expected to generate 1.18 times more return on investment than Chengdu B. However, Jinxiandai Information is 1.18 times more volatile than Chengdu B ray Media. It trades about 0.03 of its potential returns per unit of risk. Chengdu B ray Media is currently generating about -0.03 per unit of risk. If you would invest 879.00 in Jinxiandai Information Industry on October 30, 2024 and sell it today you would earn a total of 13.00 from holding Jinxiandai Information Industry or generate 1.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jinxiandai Information Industr vs. Chengdu B ray Media
Performance |
| Timeline |
| Jinxiandai Information |
| Chengdu B ray |
Jinxiandai Information and Chengdu B Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jinxiandai Information and Chengdu B
The main advantage of trading using opposite Jinxiandai Information and Chengdu B positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jinxiandai Information position performs unexpectedly, Chengdu B 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 Chengdu B will offset losses from the drop in Chengdu B's long position.| Jinxiandai Information vs. Bank of China | Jinxiandai Information vs. Kweichow Moutai Co | Jinxiandai Information vs. PetroChina Co Ltd | Jinxiandai Information vs. Bank of Communications |
| Chengdu B vs. Silkroad Visual Technology | Chengdu B vs. Guangzhou Tinci Materials | Chengdu B vs. Swancor Advanced Materials | Chengdu B vs. Shanghai Broadband Technology |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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