Correlation Between Jinsanjiang Silicon and Taiji Computer
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By analyzing existing cross correlation between Jinsanjiang Silicon Material and Taiji Computer Corp, you can compare the effects of market volatilities on Jinsanjiang Silicon and Taiji Computer 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 Jinsanjiang Silicon with a short position of Taiji Computer. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jinsanjiang Silicon and Taiji Computer.
Diversification Opportunities for Jinsanjiang Silicon and Taiji Computer
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Jinsanjiang and Taiji is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Jinsanjiang Silicon Material and Taiji Computer Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Taiji Computer Corp and Jinsanjiang Silicon 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 Jinsanjiang Silicon Material are associated (or correlated) with Taiji Computer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Taiji Computer Corp has no effect on the direction of Jinsanjiang Silicon i.e., Jinsanjiang Silicon and Taiji Computer go up and down completely randomly.
Pair Corralation between Jinsanjiang Silicon and Taiji Computer
Assuming the 90 days trading horizon Jinsanjiang Silicon Material is expected to under-perform the Taiji Computer. In addition to that, Jinsanjiang Silicon is 1.91 times more volatile than Taiji Computer Corp. It trades about -0.12 of its total potential returns per unit of risk. Taiji Computer Corp is currently generating about -0.11 per unit of volatility. If you would invest 2,443 in Taiji Computer Corp on October 30, 2024 and sell it today you would lose (143.00) from holding Taiji Computer Corp or give up 5.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Jinsanjiang Silicon Material vs. Taiji Computer Corp
Performance |
| Timeline |
| Jinsanjiang Silicon |
| Taiji Computer Corp |
Jinsanjiang Silicon and Taiji Computer Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jinsanjiang Silicon and Taiji Computer
The main advantage of trading using opposite Jinsanjiang Silicon and Taiji Computer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jinsanjiang Silicon position performs unexpectedly, Taiji Computer 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 Taiji Computer will offset losses from the drop in Taiji Computer's long position.| Jinsanjiang Silicon vs. Zijin Mining Group | Jinsanjiang Silicon vs. Wanhua Chemical Group | Jinsanjiang Silicon vs. Baoshan Iron Steel | Jinsanjiang Silicon vs. Shandong Gold Mining |
| Taiji Computer vs. Shantui Construction Machinery | Taiji Computer vs. Qijing Machinery | Taiji Computer vs. Anhui Huilong Agricultural | Taiji Computer vs. Hongrun Construction Group |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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