Correlation Between Jiangsu Financial and Harvest Fund
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiangsu Financial Leasing and Harvest Fund Management, you can compare the effects of market volatilities on Jiangsu Financial and Harvest Fund 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 Financial with a short position of Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Financial and Harvest Fund.
Diversification Opportunities for Jiangsu Financial and Harvest Fund
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jiangsu and Harvest is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Financial Leasing and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management and Jiangsu Financial 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 Financial Leasing are associated (or correlated) with Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Jiangsu Financial i.e., Jiangsu Financial and Harvest Fund go up and down completely randomly.
Pair Corralation between Jiangsu Financial and Harvest Fund
Assuming the 90 days trading horizon Jiangsu Financial Leasing is expected to under-perform the Harvest Fund. In addition to that, Jiangsu Financial is 4.28 times more volatile than Harvest Fund Management. It trades about -0.01 of its total potential returns per unit of risk. Harvest Fund Management is currently generating about 0.0 per unit of volatility. If you would invest 257.00 in Harvest Fund Management on September 1, 2024 and sell it today you would earn a total of 0.00 from holding Harvest Fund Management or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Financial Leasing vs. Harvest Fund Management
Performance |
| Timeline |
| Jiangsu Financial Leasing |
| Harvest Fund Management |
Jiangsu Financial and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Financial and Harvest Fund
The main advantage of trading using opposite Jiangsu Financial and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Financial position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund's long position.| Jiangsu Financial vs. TongFu Microelectronics Co | Jiangsu Financial vs. Epoxy Base Electronic | Jiangsu Financial vs. CICC Fund Management | Jiangsu Financial vs. Harvest Fund Management |
| Harvest Fund vs. Industrial and Commercial | Harvest Fund vs. Kweichow Moutai Co | Harvest Fund vs. Agricultural Bank of | Harvest Fund vs. China Mobile Limited |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Other Complementary Tools
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation |