Correlation Between Jinsanjiang Silicon and AECC Aviation
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By analyzing existing cross correlation between Jinsanjiang Silicon Material and AECC Aviation Power, you can compare the effects of market volatilities on Jinsanjiang Silicon and AECC Aviation 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 AECC Aviation. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jinsanjiang Silicon and AECC Aviation.
Diversification Opportunities for Jinsanjiang Silicon and AECC Aviation
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jinsanjiang and AECC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jinsanjiang Silicon Material and AECC Aviation Power in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AECC Aviation Power 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 AECC Aviation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AECC Aviation Power has no effect on the direction of Jinsanjiang Silicon i.e., Jinsanjiang Silicon and AECC Aviation go up and down completely randomly.
Pair Corralation between Jinsanjiang Silicon and AECC Aviation
If you would invest 0.00 in AECC Aviation Power on October 22, 2024 and sell it today you would earn a total of 0.00 from holding AECC Aviation Power or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Jinsanjiang Silicon Material vs. AECC Aviation Power
Performance |
| Timeline |
| Jinsanjiang Silicon |
| AECC Aviation Power |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Jinsanjiang Silicon and AECC Aviation Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jinsanjiang Silicon and AECC Aviation
The main advantage of trading using opposite Jinsanjiang Silicon and AECC Aviation positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jinsanjiang Silicon position performs unexpectedly, AECC Aviation 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 AECC Aviation will offset losses from the drop in AECC Aviation's long position.The idea behind Jinsanjiang Silicon Material and AECC Aviation Power pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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