Correlation Between Jinling Hotel and Guilin Seamild
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By analyzing existing cross correlation between Jinling Hotel Corp and Guilin Seamild Foods, you can compare the effects of market volatilities on Jinling Hotel 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 Jinling Hotel with a short position of Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jinling Hotel and Guilin Seamild.
Diversification Opportunities for Jinling Hotel and Guilin Seamild
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Jinling and Guilin is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Jinling Hotel Corp 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 Jinling Hotel 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 Jinling Hotel Corp 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 Jinling Hotel i.e., Jinling Hotel and Guilin Seamild go up and down completely randomly.
Pair Corralation between Jinling Hotel and Guilin Seamild
Assuming the 90 days trading horizon Jinling Hotel Corp is expected to under-perform the Guilin Seamild. In addition to that, Jinling Hotel is 1.0 times more volatile than Guilin Seamild Foods. It trades about -0.02 of its total potential returns per unit of risk. Guilin Seamild Foods is currently generating about 0.02 per unit of volatility. If you would invest 1,460 in Guilin Seamild Foods on October 29, 2024 and sell it today you would earn a total of 116.00 from holding Guilin Seamild Foods or generate 7.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jinling Hotel Corp vs. Guilin Seamild Foods
Performance |
| Timeline |
| Jinling Hotel Corp |
| Guilin Seamild Foods |
Jinling Hotel and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jinling Hotel and Guilin Seamild
The main advantage of trading using opposite Jinling Hotel and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jinling Hotel 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.| Jinling Hotel vs. China Everbright Bank | Jinling Hotel vs. Cabio Biotech Wuhan | Jinling Hotel vs. HUAQIN TECHNOLOGY LTD | Jinling Hotel vs. Shenwu Energy Saving |
| Guilin Seamild vs. Ningbo Kangqiang Electronics | Guilin Seamild vs. Zhonghang Electronic Measuring | Guilin Seamild vs. Weihai Honglin Electronic | Guilin Seamild vs. Ningbo Fujia Industrial |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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