Correlation Between Cultural Investment and Jiangsu Phoenix
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By analyzing existing cross correlation between Cultural Investment Holdings and Jiangsu Phoenix Publishing, you can compare the effects of market volatilities on Cultural Investment 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 Cultural Investment with a short position of Jiangsu Phoenix. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Jiangsu Phoenix.
Diversification Opportunities for Cultural Investment and Jiangsu Phoenix
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Cultural and Jiangsu is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings 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 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 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 Cultural Investment i.e., Cultural Investment and Jiangsu Phoenix go up and down completely randomly.
Pair Corralation between Cultural Investment and Jiangsu Phoenix
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to under-perform the Jiangsu Phoenix. In addition to that, Cultural Investment is 1.61 times more volatile than Jiangsu Phoenix Publishing. It trades about -0.06 of its total potential returns per unit of risk. Jiangsu Phoenix Publishing is currently generating about 0.06 per unit of volatility. If you would invest 1,032 in Jiangsu Phoenix Publishing on October 26, 2024 and sell it today you would earn a total of 41.00 from holding Jiangsu Phoenix Publishing or generate 3.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Jiangsu Phoenix Publishing
Performance |
| Timeline |
| Cultural Investment |
| Jiangsu Phoenix Publ |
Cultural Investment and Jiangsu Phoenix Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Jiangsu Phoenix
The main advantage of trading using opposite Cultural Investment and Jiangsu Phoenix positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment 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.| Cultural Investment vs. China State Construction | Cultural Investment vs. Poly Real Estate | Cultural Investment vs. China Vanke Co | Cultural Investment vs. China Merchants Shekou |
| Jiangsu Phoenix vs. Bus Online Co | Jiangsu Phoenix vs. Holitech Technology Co | Jiangsu Phoenix vs. Gome Telecom Equipment | Jiangsu Phoenix vs. Cultural Investment Holdings |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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