Correlation Between Inspur Software and XJ Electric
Specify exactly 2 symbols:
By analyzing existing cross correlation between Inspur Software Co and XJ Electric Co, you can compare the effects of market volatilities on Inspur Software and XJ Electric 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 Inspur Software with a short position of XJ Electric. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inspur Software and XJ Electric.
Diversification Opportunities for Inspur Software and XJ Electric
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Inspur and 000400 is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Inspur Software Co and XJ Electric Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on XJ Electric and Inspur Software 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 Inspur Software Co are associated (or correlated) with XJ Electric. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XJ Electric has no effect on the direction of Inspur Software i.e., Inspur Software and XJ Electric go up and down completely randomly.
Pair Corralation between Inspur Software and XJ Electric
Assuming the 90 days trading horizon Inspur Software is expected to generate 1.42 times less return on investment than XJ Electric. In addition to that, Inspur Software is 1.18 times more volatile than XJ Electric Co. It trades about 0.03 of its total potential returns per unit of risk. XJ Electric Co is currently generating about 0.05 per unit of volatility. If you would invest 1,802 in XJ Electric Co on September 13, 2024 and sell it today you would earn a total of 939.00 from holding XJ Electric Co or generate 52.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Inspur Software Co vs. XJ Electric Co
Performance |
| Timeline |
| Inspur Software |
| XJ Electric |
Inspur Software and XJ Electric Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inspur Software and XJ Electric
The main advantage of trading using opposite Inspur Software and XJ Electric positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inspur Software position performs unexpectedly, XJ Electric 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 XJ Electric will offset losses from the drop in XJ Electric's long position.| Inspur Software vs. Zhejiang Yayi Metal | Inspur Software vs. Lonkey Industrial Co | Inspur Software vs. JCHX Mining Management | Inspur Software vs. Cicc Fund Management |
| XJ Electric vs. Inspur Software Co | XJ Electric vs. Anji Foodstuff Co | XJ Electric vs. Harbin Hatou Investment | XJ Electric vs. Dhc Software 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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Stocks Directory Find actively traded stocks across global markets | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |