Correlation Between Jiangsu Yueda and Linewell Software
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By analyzing existing cross correlation between Jiangsu Yueda Investment and Linewell Software Co, you can compare the effects of market volatilities on Jiangsu Yueda and Linewell Software 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 Linewell Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Yueda and Linewell Software.
Diversification Opportunities for Jiangsu Yueda and Linewell Software
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jiangsu and Linewell is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Yueda Investment and Linewell Software Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Linewell Software 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 Linewell Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Linewell Software has no effect on the direction of Jiangsu Yueda i.e., Jiangsu Yueda and Linewell Software go up and down completely randomly.
Pair Corralation between Jiangsu Yueda and Linewell Software
Assuming the 90 days trading horizon Jiangsu Yueda Investment is expected to generate 1.13 times more return on investment than Linewell Software. However, Jiangsu Yueda is 1.13 times more volatile than Linewell Software Co. It trades about -0.22 of its potential returns per unit of risk. Linewell Software Co is currently generating about -0.3 per unit of risk. If you would invest 485.00 in Jiangsu Yueda Investment on October 11, 2024 and sell it today you would lose (58.00) from holding Jiangsu Yueda Investment or give up 11.96% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Yueda Investment vs. Linewell Software Co
Performance |
| Timeline |
| Jiangsu Yueda Investment |
| Linewell Software |
Jiangsu Yueda and Linewell Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Yueda and Linewell Software
The main advantage of trading using opposite Jiangsu Yueda and Linewell Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Yueda position performs unexpectedly, Linewell Software 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 Linewell Software will offset losses from the drop in Linewell Software's long position.| Jiangsu Yueda vs. Cultural Investment Holdings | Jiangsu Yueda vs. Ningbo Jintian Copper | Jiangsu Yueda vs. Kunwu Jiuding Investment | Jiangsu Yueda vs. Jointo Energy Investment |
| Linewell Software vs. Qiaoyin Environmental Tech | Linewell Software vs. Jiangsu Yueda Investment | Linewell Software vs. Shenzhen MYS Environmental | Linewell Software vs. Gansu Jiu Steel |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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