Correlation Between ButOne Information and Sichuan Jinshi
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By analyzing existing cross correlation between ButOne Information Corp and Sichuan Jinshi Technology, you can compare the effects of market volatilities on ButOne Information and Sichuan Jinshi 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 ButOne Information with a short position of Sichuan Jinshi. Check out your portfolio center. Please also check ongoing floating volatility patterns of ButOne Information and Sichuan Jinshi.
Diversification Opportunities for ButOne Information and Sichuan Jinshi
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between ButOne and Sichuan is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding ButOne Information Corp and Sichuan Jinshi Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sichuan Jinshi Technology and ButOne Information 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 ButOne Information Corp are associated (or correlated) with Sichuan Jinshi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sichuan Jinshi Technology has no effect on the direction of ButOne Information i.e., ButOne Information and Sichuan Jinshi go up and down completely randomly.
Pair Corralation between ButOne Information and Sichuan Jinshi
Assuming the 90 days trading horizon ButOne Information is expected to generate 1.21 times less return on investment than Sichuan Jinshi. In addition to that, ButOne Information is 1.44 times more volatile than Sichuan Jinshi Technology. It trades about 0.09 of its total potential returns per unit of risk. Sichuan Jinshi Technology is currently generating about 0.15 per unit of volatility. If you would invest 489.00 in Sichuan Jinshi Technology on October 18, 2024 and sell it today you would earn a total of 174.00 from holding Sichuan Jinshi Technology or generate 35.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ButOne Information Corp vs. Sichuan Jinshi Technology
Performance |
| Timeline |
| ButOne Information Corp |
| Sichuan Jinshi Technology |
ButOne Information and Sichuan Jinshi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ButOne Information and Sichuan Jinshi
The main advantage of trading using opposite ButOne Information and Sichuan Jinshi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ButOne Information position performs unexpectedly, Sichuan Jinshi 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 Sichuan Jinshi will offset losses from the drop in Sichuan Jinshi's long position.| ButOne Information vs. Eastern Communications Co | ButOne Information vs. Kuang Chi Technologies | ButOne Information vs. Lootom Telcovideo Network | ButOne Information vs. Nanjing Putian Telecommunications |
| Sichuan Jinshi vs. Shuhua Sports Co | Sichuan Jinshi vs. ButOne Information Corp | Sichuan Jinshi vs. CITIC Guoan Information | Sichuan Jinshi vs. Zhongfu Information |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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