Correlation Between Cultural Investment and Jiangyin Jianghua
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By analyzing existing cross correlation between Cultural Investment Holdings and Jiangyin Jianghua Microelectronics, you can compare the effects of market volatilities on Cultural Investment and Jiangyin Jianghua 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 Jiangyin Jianghua. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Jiangyin Jianghua.
Diversification Opportunities for Cultural Investment and Jiangyin Jianghua
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cultural and Jiangyin is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Jiangyin Jianghua Microelectro in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangyin Jianghua 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 Jiangyin Jianghua. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangyin Jianghua has no effect on the direction of Cultural Investment i.e., Cultural Investment and Jiangyin Jianghua go up and down completely randomly.
Pair Corralation between Cultural Investment and Jiangyin Jianghua
Assuming the 90 days trading horizon Cultural Investment is expected to generate 3.17 times less return on investment than Jiangyin Jianghua. But when comparing it to its historical volatility, Cultural Investment Holdings is 1.63 times less risky than Jiangyin Jianghua. It trades about 0.03 of its potential returns per unit of risk. Jiangyin Jianghua Microelectronics is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 1,804 in Jiangyin Jianghua Microelectronics on September 12, 2024 and sell it today you would earn a total of 61.00 from holding Jiangyin Jianghua Microelectronics or generate 3.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Jiangyin Jianghua Microelectro
Performance |
| Timeline |
| Cultural Investment |
| Jiangyin Jianghua |
Cultural Investment and Jiangyin Jianghua Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Jiangyin Jianghua
The main advantage of trading using opposite Cultural Investment and Jiangyin Jianghua positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Jiangyin Jianghua 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 Jiangyin Jianghua will offset losses from the drop in Jiangyin Jianghua's long position.| Cultural Investment vs. Kweichow Moutai Co | Cultural Investment vs. Shenzhen Mindray Bio Medical | Cultural Investment vs. G bits Network Technology | Cultural Investment vs. Beijing Roborock Technology |
| Jiangyin Jianghua vs. Gansu Jiu Steel | Jiangyin Jianghua vs. Shandong Mining Machinery | Jiangyin Jianghua vs. Aba Chemicals Corp | Jiangyin Jianghua vs. BlueFocus Communication Group |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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