Correlation Between Harvest Fund and Jiujiang Shanshui
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By analyzing existing cross correlation between Harvest Fund Management and Jiujiang Shanshui Technology, you can compare the effects of market volatilities on Harvest Fund and Jiujiang Shanshui 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 Harvest Fund with a short position of Jiujiang Shanshui. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Jiujiang Shanshui.
Diversification Opportunities for Harvest Fund and Jiujiang Shanshui
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Harvest and Jiujiang is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Jiujiang Shanshui Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiujiang Shanshui and Harvest Fund 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 Harvest Fund Management are associated (or correlated) with Jiujiang Shanshui. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiujiang Shanshui has no effect on the direction of Harvest Fund i.e., Harvest Fund and Jiujiang Shanshui go up and down completely randomly.
Pair Corralation between Harvest Fund and Jiujiang Shanshui
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.55 times more return on investment than Jiujiang Shanshui. However, Harvest Fund Management is 1.8 times less risky than Jiujiang Shanshui. It trades about 0.41 of its potential returns per unit of risk. Jiujiang Shanshui Technology is currently generating about 0.16 per unit of risk. If you would invest 320.00 in Harvest Fund Management on November 5, 2024 and sell it today you would earn a total of 17.00 from holding Harvest Fund Management or generate 5.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Fund Management vs. Jiujiang Shanshui Technology
Performance |
| Timeline |
| Harvest Fund Management |
| Jiujiang Shanshui |
Harvest Fund and Jiujiang Shanshui Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Jiujiang Shanshui
The main advantage of trading using opposite Harvest Fund and Jiujiang Shanshui positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Jiujiang Shanshui 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 Jiujiang Shanshui will offset losses from the drop in Jiujiang Shanshui's long position.| Harvest Fund vs. Yunnan Jianzhijia Health Chain | Harvest Fund vs. Meinian Onehealth Healthcare | Harvest Fund vs. Dezhan HealthCare Co | Harvest Fund vs. Shenzhen Topway Video |
| Jiujiang Shanshui vs. Zoje Resources Investment | Jiujiang Shanshui vs. Tianjin Ruixin Technology | Jiujiang Shanshui vs. Nuode Investment Co | Jiujiang Shanshui vs. Henan Shuanghui Investment |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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