Correlation Between Grandblue Environment and Jiangsu Yanghe
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By analyzing existing cross correlation between Grandblue Environment Co and Jiangsu Yanghe Brewery, you can compare the effects of market volatilities on Grandblue Environment and Jiangsu Yanghe 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 Grandblue Environment with a short position of Jiangsu Yanghe. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grandblue Environment and Jiangsu Yanghe.
Diversification Opportunities for Grandblue Environment and Jiangsu Yanghe
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Grandblue and Jiangsu is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Grandblue Environment Co and Jiangsu Yanghe Brewery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Yanghe Brewery and Grandblue Environment 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 Grandblue Environment Co are associated (or correlated) with Jiangsu Yanghe. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Yanghe Brewery has no effect on the direction of Grandblue Environment i.e., Grandblue Environment and Jiangsu Yanghe go up and down completely randomly.
Pair Corralation between Grandblue Environment and Jiangsu Yanghe
Assuming the 90 days trading horizon Grandblue Environment Co is expected to generate 1.17 times more return on investment than Jiangsu Yanghe. However, Grandblue Environment is 1.17 times more volatile than Jiangsu Yanghe Brewery. It trades about 0.27 of its potential returns per unit of risk. Jiangsu Yanghe Brewery is currently generating about -0.04 per unit of risk. If you would invest 2,152 in Grandblue Environment Co on September 25, 2024 and sell it today you would earn a total of 173.00 from holding Grandblue Environment Co or generate 8.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grandblue Environment Co vs. Jiangsu Yanghe Brewery
Performance |
| Timeline |
| Grandblue Environment |
| Jiangsu Yanghe Brewery |
Grandblue Environment and Jiangsu Yanghe Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grandblue Environment and Jiangsu Yanghe
The main advantage of trading using opposite Grandblue Environment and Jiangsu Yanghe positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grandblue Environment position performs unexpectedly, Jiangsu Yanghe 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 Jiangsu Yanghe will offset losses from the drop in Jiangsu Yanghe's long position.| Grandblue Environment vs. Jiangsu Yanghe Brewery | Grandblue Environment vs. JuneYao Dairy Co | Grandblue Environment vs. Zhengzhou Qianweiyangchu Food | Grandblue Environment vs. Great Sun Foods Co |
| Jiangsu Yanghe vs. Talkweb Information System | Jiangsu Yanghe vs. Jinhui Liquor Co | Jiangsu Yanghe vs. Focus Media Information | Jiangsu Yanghe vs. Caihong Display Devices |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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