Correlation Between Cultural Investment and JuneYao Dairy
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By analyzing existing cross correlation between Cultural Investment Holdings and JuneYao Dairy Co, you can compare the effects of market volatilities on Cultural Investment and JuneYao Dairy 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 JuneYao Dairy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and JuneYao Dairy.
Diversification Opportunities for Cultural Investment and JuneYao Dairy
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cultural and JuneYao is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and JuneYao Dairy Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JuneYao Dairy 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 JuneYao Dairy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JuneYao Dairy has no effect on the direction of Cultural Investment i.e., Cultural Investment and JuneYao Dairy go up and down completely randomly.
Pair Corralation between Cultural Investment and JuneYao Dairy
Assuming the 90 days trading horizon Cultural Investment is expected to generate 128.29 times less return on investment than JuneYao Dairy. But when comparing it to its historical volatility, Cultural Investment Holdings is 1.36 times less risky than JuneYao Dairy. It trades about 0.0 of its potential returns per unit of risk. JuneYao Dairy Co is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest 594.00 in JuneYao Dairy Co on September 14, 2024 and sell it today you would earn a total of 226.00 from holding JuneYao Dairy Co or generate 38.05% 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. JuneYao Dairy Co
Performance |
| Timeline |
| Cultural Investment |
| JuneYao Dairy |
Cultural Investment and JuneYao Dairy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and JuneYao Dairy
The main advantage of trading using opposite Cultural Investment and JuneYao Dairy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, JuneYao Dairy 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 JuneYao Dairy will offset losses from the drop in JuneYao Dairy's long position.| Cultural Investment vs. Industrial and Commercial | Cultural Investment vs. China Construction Bank | Cultural Investment vs. Agricultural Bank of | Cultural Investment vs. Bank of China |
| JuneYao Dairy vs. Ningxia Building Materials | JuneYao Dairy vs. Sinosteel Luonai Materials | JuneYao Dairy vs. Cultural Investment Holdings | JuneYao Dairy vs. Jiangsu Yueda Investment |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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