Correlation Between Jiujiang Shanshui and Maxvision Technology
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By analyzing existing cross correlation between Jiujiang Shanshui Technology and Maxvision Technology Corp, you can compare the effects of market volatilities on Jiujiang Shanshui and Maxvision Technology 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 Jiujiang Shanshui with a short position of Maxvision Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiujiang Shanshui and Maxvision Technology.
Diversification Opportunities for Jiujiang Shanshui and Maxvision Technology
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jiujiang and Maxvision is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding Jiujiang Shanshui Technology and Maxvision Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maxvision Technology Corp and Jiujiang Shanshui 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 Jiujiang Shanshui Technology are associated (or correlated) with Maxvision Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maxvision Technology Corp has no effect on the direction of Jiujiang Shanshui i.e., Jiujiang Shanshui and Maxvision Technology go up and down completely randomly.
Pair Corralation between Jiujiang Shanshui and Maxvision Technology
Assuming the 90 days trading horizon Jiujiang Shanshui Technology is expected to generate 0.82 times more return on investment than Maxvision Technology. However, Jiujiang Shanshui Technology is 1.22 times less risky than Maxvision Technology. It trades about 0.0 of its potential returns per unit of risk. Maxvision Technology Corp is currently generating about -0.03 per unit of risk. If you would invest 1,826 in Jiujiang Shanshui Technology on August 24, 2024 and sell it today you would lose (234.00) from holding Jiujiang Shanshui Technology or give up 12.81% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiujiang Shanshui Technology vs. Maxvision Technology Corp
Performance |
| Timeline |
| Jiujiang Shanshui |
| Maxvision Technology Corp |
Jiujiang Shanshui and Maxvision Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiujiang Shanshui and Maxvision Technology
The main advantage of trading using opposite Jiujiang Shanshui and Maxvision Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiujiang Shanshui position performs unexpectedly, Maxvision Technology 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 Maxvision Technology will offset losses from the drop in Maxvision Technology's long position.| Jiujiang Shanshui vs. Zijin Mining Group | Jiujiang Shanshui vs. Wanhua Chemical Group | Jiujiang Shanshui vs. Baoshan Iron Steel | Jiujiang Shanshui vs. Shandong Gold Mining |
| Maxvision Technology vs. Ming Yang Smart | Maxvision Technology vs. 159005 | Maxvision Technology vs. Loctek Ergonomic Technology | Maxvision Technology vs. Xiamen East Asia |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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