Correlation Between Liuzhou Chemical and Jiangsu Phoenix
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By analyzing existing cross correlation between Liuzhou Chemical Industry and Jiangsu Phoenix Publishing, you can compare the effects of market volatilities on Liuzhou Chemical and Jiangsu Phoenix 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 Liuzhou Chemical with a short position of Jiangsu Phoenix. Check out your portfolio center. Please also check ongoing floating volatility patterns of Liuzhou Chemical and Jiangsu Phoenix.
Diversification Opportunities for Liuzhou Chemical and Jiangsu Phoenix
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Liuzhou and Jiangsu is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Liuzhou Chemical Industry and Jiangsu Phoenix Publishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Phoenix Publ and Liuzhou Chemical 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 Liuzhou Chemical Industry are associated (or correlated) with Jiangsu Phoenix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Phoenix Publ has no effect on the direction of Liuzhou Chemical i.e., Liuzhou Chemical and Jiangsu Phoenix go up and down completely randomly.
Pair Corralation between Liuzhou Chemical and Jiangsu Phoenix
Assuming the 90 days trading horizon Liuzhou Chemical Industry is expected to generate 2.22 times more return on investment than Jiangsu Phoenix. However, Liuzhou Chemical is 2.22 times more volatile than Jiangsu Phoenix Publishing. It trades about 0.04 of its potential returns per unit of risk. Jiangsu Phoenix Publishing is currently generating about -0.13 per unit of risk. If you would invest 333.00 in Liuzhou Chemical Industry on October 17, 2024 and sell it today you would earn a total of 6.00 from holding Liuzhou Chemical Industry or generate 1.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Liuzhou Chemical Industry vs. Jiangsu Phoenix Publishing
Performance |
| Timeline |
| Liuzhou Chemical Industry |
| Jiangsu Phoenix Publ |
Liuzhou Chemical and Jiangsu Phoenix Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Liuzhou Chemical and Jiangsu Phoenix
The main advantage of trading using opposite Liuzhou Chemical and Jiangsu Phoenix positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Liuzhou Chemical position performs unexpectedly, Jiangsu Phoenix 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 Phoenix will offset losses from the drop in Jiangsu Phoenix's long position.| Liuzhou Chemical vs. Zhejiang Publishing Media | Liuzhou Chemical vs. Henan Shuanghui Investment | Liuzhou Chemical vs. Heilongjiang Publishing Media | Liuzhou Chemical vs. Tangel Publishing |
| Jiangsu Phoenix vs. Shuhua Sports Co | Jiangsu Phoenix vs. HeBei Jinniu Chemical | Jiangsu Phoenix vs. Anhui Transport Consulting | Jiangsu Phoenix vs. Liuzhou Chemical Industry |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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