Correlation Between Cultural Investment and JS Corrugating
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By analyzing existing cross correlation between Cultural Investment Holdings and JS Corrugating Machinery, you can compare the effects of market volatilities on Cultural Investment and JS Corrugating 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 JS Corrugating. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and JS Corrugating.
Diversification Opportunities for Cultural Investment and JS Corrugating
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Cultural and 000821 is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and JS Corrugating Machinery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JS Corrugating Machinery 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 JS Corrugating. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JS Corrugating Machinery has no effect on the direction of Cultural Investment i.e., Cultural Investment and JS Corrugating go up and down completely randomly.
Pair Corralation between Cultural Investment and JS Corrugating
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 1.22 times more return on investment than JS Corrugating. However, Cultural Investment is 1.22 times more volatile than JS Corrugating Machinery. It trades about 0.02 of its potential returns per unit of risk. JS Corrugating Machinery is currently generating about -0.01 per unit of risk. If you would invest 231.00 in Cultural Investment Holdings on September 2, 2024 and sell it today you would lose (11.00) from holding Cultural Investment Holdings or give up 4.76% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. JS Corrugating Machinery
Performance |
| Timeline |
| Cultural Investment |
| JS Corrugating Machinery |
Cultural Investment and JS Corrugating Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and JS Corrugating
The main advantage of trading using opposite Cultural Investment and JS Corrugating positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, JS Corrugating 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 JS Corrugating will offset losses from the drop in JS Corrugating's long position.| Cultural Investment vs. China Minmetals Rare | Cultural Investment vs. Chengtun Mining Group | Cultural Investment vs. Qinghaihuading Industrial Co | Cultural Investment vs. China Life Insurance |
| JS Corrugating vs. New China Life | JS Corrugating vs. Ming Yang Smart | JS Corrugating vs. 159681 | JS Corrugating vs. 159005 |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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