Correlation Between Jiangsu Yueda and Guilin Seamild
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiangsu Yueda Investment and Guilin Seamild Foods, you can compare the effects of market volatilities on Jiangsu Yueda and Guilin Seamild 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 Jiangsu Yueda with a short position of Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Yueda and Guilin Seamild.
Diversification Opportunities for Jiangsu Yueda and Guilin Seamild
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jiangsu and Guilin is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Yueda Investment and Guilin Seamild Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guilin Seamild Foods and Jiangsu Yueda 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 Jiangsu Yueda Investment are associated (or correlated) with Guilin Seamild. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guilin Seamild Foods has no effect on the direction of Jiangsu Yueda i.e., Jiangsu Yueda and Guilin Seamild go up and down completely randomly.
Pair Corralation between Jiangsu Yueda and Guilin Seamild
Assuming the 90 days trading horizon Jiangsu Yueda Investment is expected to generate 0.6 times more return on investment than Guilin Seamild. However, Jiangsu Yueda Investment is 1.68 times less risky than Guilin Seamild. It trades about -0.15 of its potential returns per unit of risk. Guilin Seamild Foods is currently generating about -0.13 per unit of risk. If you would invest 450.00 in Jiangsu Yueda Investment on October 30, 2024 and sell it today you would lose (22.00) from holding Jiangsu Yueda Investment or give up 4.89% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Yueda Investment vs. Guilin Seamild Foods
Performance |
| Timeline |
| Jiangsu Yueda Investment |
| Guilin Seamild Foods |
Jiangsu Yueda and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Yueda and Guilin Seamild
The main advantage of trading using opposite Jiangsu Yueda and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Yueda position performs unexpectedly, Guilin Seamild 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 Guilin Seamild will offset losses from the drop in Guilin Seamild's long position.| Jiangsu Yueda vs. Industrial and Commercial | Jiangsu Yueda vs. China Construction Bank | Jiangsu Yueda vs. Bank of China | Jiangsu Yueda vs. Agricultural Bank of |
| Guilin Seamild vs. Panda Financial Holding | Guilin Seamild vs. Biwin Storage Technology | Guilin Seamild vs. Hua Xia Bank | Guilin Seamild vs. East Money Information |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes |