Correlation Between China Aluminum and 5I5j Holding
Specify exactly 2 symbols:
By analyzing existing cross correlation between China Aluminum International and 5I5j Holding Group, you can compare the effects of market volatilities on China Aluminum and 5I5j Holding 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 China Aluminum with a short position of 5I5j Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Aluminum and 5I5j Holding.
Diversification Opportunities for China Aluminum and 5I5j Holding
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between China and 5I5j is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding China Aluminum International and 5I5j Holding Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 5I5j Holding Group and China Aluminum 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 China Aluminum International are associated (or correlated) with 5I5j Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 5I5j Holding Group has no effect on the direction of China Aluminum i.e., China Aluminum and 5I5j Holding go up and down completely randomly.
Pair Corralation between China Aluminum and 5I5j Holding
If you would invest 0.00 in 5I5j Holding Group on November 6, 2024 and sell it today you would earn a total of 0.00 from holding 5I5j Holding Group or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.88% |
| Values | Daily Returns |
China Aluminum International vs. 5I5j Holding Group
Performance |
| Timeline |
| China Aluminum Inter |
| 5I5j Holding Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
China Aluminum and 5I5j Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Aluminum and 5I5j Holding
The main advantage of trading using opposite China Aluminum and 5I5j Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Aluminum position performs unexpectedly, 5I5j Holding 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 5I5j Holding will offset losses from the drop in 5I5j Holding's long position.| China Aluminum vs. Shanghai Yaoji Playing | China Aluminum vs. Dymatic Chemicals | China Aluminum vs. Shandong Polymer Biochemicals | China Aluminum vs. Ping An Insurance |
| 5I5j Holding vs. Time Publishing and | 5I5j Holding vs. Smartgiant Technology Co | 5I5j Holding vs. China World Trade | 5I5j Holding vs. Beijing Kaiwen Education |
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.
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