Correlation Between Jinsanjiang Silicon and Eastroc Beverage
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By analyzing existing cross correlation between Jinsanjiang Silicon Material and Eastroc Beverage Group, you can compare the effects of market volatilities on Jinsanjiang Silicon and Eastroc Beverage 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 Eastroc Beverage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jinsanjiang Silicon and Eastroc Beverage.
Diversification Opportunities for Jinsanjiang Silicon and Eastroc Beverage
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Jinsanjiang and Eastroc is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Jinsanjiang Silicon Material and Eastroc Beverage Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eastroc Beverage 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 Eastroc Beverage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eastroc Beverage has no effect on the direction of Jinsanjiang Silicon i.e., Jinsanjiang Silicon and Eastroc Beverage go up and down completely randomly.
Pair Corralation between Jinsanjiang Silicon and Eastroc Beverage
Assuming the 90 days trading horizon Jinsanjiang Silicon is expected to generate 18.9 times less return on investment than Eastroc Beverage. In addition to that, Jinsanjiang Silicon is 1.86 times more volatile than Eastroc Beverage Group. It trades about 0.0 of its total potential returns per unit of risk. Eastroc Beverage Group is currently generating about 0.09 per unit of volatility. If you would invest 13,220 in Eastroc Beverage Group on October 13, 2024 and sell it today you would earn a total of 14,476 from holding Eastroc Beverage Group or generate 109.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jinsanjiang Silicon Material vs. Eastroc Beverage Group
Performance |
| Timeline |
| Jinsanjiang Silicon |
| Eastroc Beverage |
Jinsanjiang Silicon and Eastroc Beverage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jinsanjiang Silicon and Eastroc Beverage
The main advantage of trading using opposite Jinsanjiang Silicon and Eastroc Beverage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jinsanjiang Silicon position performs unexpectedly, Eastroc Beverage 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 Eastroc Beverage will offset losses from the drop in Eastroc Beverage's long position.| Jinsanjiang Silicon vs. 360 Security Technology | Jinsanjiang Silicon vs. Servyou Software Group | Jinsanjiang Silicon vs. Linewell Software Co | Jinsanjiang Silicon vs. Glodon Software Co |
| Eastroc Beverage vs. Konfoong Materials International | Eastroc Beverage vs. Shanghai Broadband Technology | Eastroc Beverage vs. Jinsanjiang Silicon Material | Eastroc Beverage vs. RoadMain T 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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