Correlation Between Jinxiandai Information and Duzhe Publishing
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By analyzing existing cross correlation between Jinxiandai Information Industry and Duzhe Publishing Media, you can compare the effects of market volatilities on Jinxiandai Information and Duzhe Publishing 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 Duzhe Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jinxiandai Information and Duzhe Publishing.
Diversification Opportunities for Jinxiandai Information and Duzhe Publishing
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Jinxiandai and Duzhe is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Jinxiandai Information Industr and Duzhe Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Duzhe Publishing Media 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 Duzhe Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Duzhe Publishing Media has no effect on the direction of Jinxiandai Information i.e., Jinxiandai Information and Duzhe Publishing go up and down completely randomly.
Pair Corralation between Jinxiandai Information and Duzhe Publishing
Assuming the 90 days trading horizon Jinxiandai Information Industry is expected to generate 1.53 times more return on investment than Duzhe Publishing. However, Jinxiandai Information is 1.53 times more volatile than Duzhe Publishing Media. It trades about 0.03 of its potential returns per unit of risk. Duzhe Publishing Media is currently generating about -0.06 per unit of risk. If you would invest 824.00 in Jinxiandai Information Industry on October 26, 2024 and sell it today you would earn a total of 7.00 from holding Jinxiandai Information Industry or generate 0.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jinxiandai Information Industr vs. Duzhe Publishing Media
Performance |
| Timeline |
| Jinxiandai Information |
| Duzhe Publishing Media |
Jinxiandai Information and Duzhe Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jinxiandai Information and Duzhe Publishing
The main advantage of trading using opposite Jinxiandai Information and Duzhe Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jinxiandai Information position performs unexpectedly, Duzhe Publishing 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 Duzhe Publishing will offset losses from the drop in Duzhe Publishing'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 |
| Duzhe Publishing vs. Fibocom Wireless | Duzhe Publishing vs. Dongfeng Automobile Co | Duzhe Publishing vs. Fiberhome Telecommunication Technologies | Duzhe Publishing vs. Xiangyang Automobile Bearing |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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