Correlation Between Sublime China and Kunwu Jiuding
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By analyzing existing cross correlation between Sublime China Information and Kunwu Jiuding Investment, you can compare the effects of market volatilities on Sublime China and Kunwu Jiuding 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 Sublime China with a short position of Kunwu Jiuding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sublime China and Kunwu Jiuding.
Diversification Opportunities for Sublime China and Kunwu Jiuding
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Sublime and Kunwu is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Sublime China Information and Kunwu Jiuding Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kunwu Jiuding Investment and Sublime China 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 Sublime China Information are associated (or correlated) with Kunwu Jiuding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kunwu Jiuding Investment has no effect on the direction of Sublime China i.e., Sublime China and Kunwu Jiuding go up and down completely randomly.
Pair Corralation between Sublime China and Kunwu Jiuding
Assuming the 90 days trading horizon Sublime China Information is expected to generate 1.3 times more return on investment than Kunwu Jiuding. However, Sublime China is 1.3 times more volatile than Kunwu Jiuding Investment. It trades about 0.03 of its potential returns per unit of risk. Kunwu Jiuding Investment is currently generating about 0.01 per unit of risk. If you would invest 4,813 in Sublime China Information on October 14, 2024 and sell it today you would earn a total of 1,082 from holding Sublime China Information or generate 22.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sublime China Information vs. Kunwu Jiuding Investment
Performance |
| Timeline |
| Sublime China Information |
| Kunwu Jiuding Investment |
Sublime China and Kunwu Jiuding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sublime China and Kunwu Jiuding
The main advantage of trading using opposite Sublime China and Kunwu Jiuding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sublime China position performs unexpectedly, Kunwu Jiuding 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 Kunwu Jiuding will offset losses from the drop in Kunwu Jiuding's long position.| Sublime China vs. Shenzhen Noposion Agrochemicals | Sublime China vs. Liaoning Dingjide Petrochemical | Sublime China vs. Guangzhou Dongfang Hotel | Sublime China vs. Guangzhou Seagull Kitchen |
| Kunwu Jiuding vs. Kidswant Children Products | Kunwu Jiuding vs. Hygon Information Technology | Kunwu Jiuding vs. Sublime China Information | Kunwu Jiuding vs. Sanbo Hospital Management |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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