Correlation Between Cultural Investment and Jiangnan Mould
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By analyzing existing cross correlation between Cultural Investment Holdings and Jiangnan Mould Plastic, you can compare the effects of market volatilities on Cultural Investment and Jiangnan Mould 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 Cultural Investment with a short position of Jiangnan Mould. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Jiangnan Mould.
Diversification Opportunities for Cultural Investment and Jiangnan Mould
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Cultural and Jiangnan is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Jiangnan Mould Plastic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangnan Mould Plastic and Cultural Investment 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 Cultural Investment Holdings are associated (or correlated) with Jiangnan Mould. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangnan Mould Plastic has no effect on the direction of Cultural Investment i.e., Cultural Investment and Jiangnan Mould go up and down completely randomly.
Pair Corralation between Cultural Investment and Jiangnan Mould
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 1.06 times more return on investment than Jiangnan Mould. However, Cultural Investment is 1.06 times more volatile than Jiangnan Mould Plastic. It trades about 0.11 of its potential returns per unit of risk. Jiangnan Mould Plastic is currently generating about 0.11 per unit of risk. If you would invest 158.00 in Cultural Investment Holdings on September 5, 2024 and sell it today you would earn a total of 67.00 from holding Cultural Investment Holdings or generate 42.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Jiangnan Mould Plastic
Performance |
| Timeline |
| Cultural Investment |
| Jiangnan Mould Plastic |
Cultural Investment and Jiangnan Mould Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Jiangnan Mould
The main advantage of trading using opposite Cultural Investment and Jiangnan Mould positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Jiangnan Mould 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 Jiangnan Mould will offset losses from the drop in Jiangnan Mould's long position.| Cultural Investment vs. Anhui Gujing Distillery | Cultural Investment vs. Shandong Sinoglory Health | Cultural Investment vs. Shanghai Jinfeng Wine | Cultural Investment vs. Everjoy Health Group |
| Jiangnan Mould vs. Cultural Investment Holdings | Jiangnan Mould vs. Gome Telecom Equipment | Jiangnan Mould vs. Bus Online Co | Jiangnan Mould vs. Holitech Technology Co |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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