Correlation Between Jiangxi Lianchuang and Gansu Huangtai
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiangxi Lianchuang Opto electronic and Gansu Huangtai Wine marketing, you can compare the effects of market volatilities on Jiangxi Lianchuang and Gansu Huangtai 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 Jiangxi Lianchuang with a short position of Gansu Huangtai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangxi Lianchuang and Gansu Huangtai.
Diversification Opportunities for Jiangxi Lianchuang and Gansu Huangtai
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Jiangxi and Gansu is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Jiangxi Lianchuang Opto electr and Gansu Huangtai Wine marketing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gansu Huangtai Wine and Jiangxi Lianchuang 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 Jiangxi Lianchuang Opto electronic are associated (or correlated) with Gansu Huangtai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gansu Huangtai Wine has no effect on the direction of Jiangxi Lianchuang i.e., Jiangxi Lianchuang and Gansu Huangtai go up and down completely randomly.
Pair Corralation between Jiangxi Lianchuang and Gansu Huangtai
Assuming the 90 days trading horizon Jiangxi Lianchuang Opto electronic is expected to generate 0.76 times more return on investment than Gansu Huangtai. However, Jiangxi Lianchuang Opto electronic is 1.32 times less risky than Gansu Huangtai. It trades about 0.09 of its potential returns per unit of risk. Gansu Huangtai Wine marketing is currently generating about 0.06 per unit of risk. If you would invest 4,435 in Jiangxi Lianchuang Opto electronic on October 28, 2024 and sell it today you would earn a total of 472.00 from holding Jiangxi Lianchuang Opto electronic or generate 10.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangxi Lianchuang Opto electr vs. Gansu Huangtai Wine marketing
Performance |
| Timeline |
| Jiangxi Lianchuang Opto |
| Gansu Huangtai Wine |
Jiangxi Lianchuang and Gansu Huangtai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangxi Lianchuang and Gansu Huangtai
The main advantage of trading using opposite Jiangxi Lianchuang and Gansu Huangtai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangxi Lianchuang position performs unexpectedly, Gansu Huangtai 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 Gansu Huangtai will offset losses from the drop in Gansu Huangtai's long position.| Jiangxi Lianchuang vs. North Copper Shanxi | Jiangxi Lianchuang vs. Tibet Huayu Mining | Jiangxi Lianchuang vs. Pengxin International Mining | Jiangxi Lianchuang vs. Huaibei Mining Holdings |
| Gansu Huangtai vs. Cicc Fund Management | Gansu Huangtai vs. SSAW Hotels Resorts | Gansu Huangtai vs. Jiangsu Financial Leasing | Gansu Huangtai vs. Postal Savings Bank |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |