Correlation Between Inspur Software and JiShi Media
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By analyzing existing cross correlation between Inspur Software Co and JiShi Media Co, you can compare the effects of market volatilities on Inspur Software and JiShi Media 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 JiShi Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inspur Software and JiShi Media.
Diversification Opportunities for Inspur Software and JiShi Media
0.98 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Inspur and JiShi is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding Inspur Software Co and JiShi Media Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JiShi Media 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 JiShi Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JiShi Media has no effect on the direction of Inspur Software i.e., Inspur Software and JiShi Media go up and down completely randomly.
Pair Corralation between Inspur Software and JiShi Media
Assuming the 90 days trading horizon Inspur Software is expected to generate 1.23 times less return on investment than JiShi Media. But when comparing it to its historical volatility, Inspur Software Co is 1.03 times less risky than JiShi Media. It trades about 0.21 of its potential returns per unit of risk. JiShi Media Co is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 105.00 in JiShi Media Co on September 3, 2024 and sell it today you would earn a total of 80.00 from holding JiShi Media Co or generate 76.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Inspur Software Co vs. JiShi Media Co
Performance |
| Timeline |
| Inspur Software |
| JiShi Media |
Inspur Software and JiShi Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inspur Software and JiShi Media
The main advantage of trading using opposite Inspur Software and JiShi Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inspur Software position performs unexpectedly, JiShi Media 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 JiShi Media will offset losses from the drop in JiShi Media's long position.| Inspur Software vs. Agricultural Bank of | Inspur Software vs. China Construction Bank | Inspur Software vs. Postal Savings Bank | Inspur Software vs. Bank of Communications |
| JiShi Media vs. Gansu Jiu Steel | JiShi Media vs. Ming Yang Smart | JiShi Media vs. Aba Chemicals Corp | JiShi Media vs. Loctek Ergonomic Technology |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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