Correlation Between 360 Security and Jiangyin Haida
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By analyzing existing cross correlation between 360 Security Technology and Jiangyin Haida Rubber, you can compare the effects of market volatilities on 360 Security and Jiangyin Haida 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 360 Security with a short position of Jiangyin Haida. Check out your portfolio center. Please also check ongoing floating volatility patterns of 360 Security and Jiangyin Haida.
Diversification Opportunities for 360 Security and Jiangyin Haida
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between 360 and Jiangyin is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding 360 Security Technology and Jiangyin Haida Rubber in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangyin Haida Rubber and 360 Security 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 360 Security Technology are associated (or correlated) with Jiangyin Haida. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangyin Haida Rubber has no effect on the direction of 360 Security i.e., 360 Security and Jiangyin Haida go up and down completely randomly.
Pair Corralation between 360 Security and Jiangyin Haida
Assuming the 90 days trading horizon 360 Security Technology is expected to generate 1.2 times more return on investment than Jiangyin Haida. However, 360 Security is 1.2 times more volatile than Jiangyin Haida Rubber. It trades about 0.04 of its potential returns per unit of risk. Jiangyin Haida Rubber is currently generating about 0.0 per unit of risk. If you would invest 729.00 in 360 Security Technology on October 26, 2024 and sell it today you would earn a total of 305.00 from holding 360 Security Technology or generate 41.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
360 Security Technology vs. Jiangyin Haida Rubber
Performance |
| Timeline |
| 360 Security Technology |
| Jiangyin Haida Rubber |
360 Security and Jiangyin Haida Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 360 Security and Jiangyin Haida
The main advantage of trading using opposite 360 Security and Jiangyin Haida positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 360 Security position performs unexpectedly, Jiangyin Haida 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 Jiangyin Haida will offset losses from the drop in Jiangyin Haida's long position.| 360 Security vs. Dhc Software Co | 360 Security vs. Olympic Circuit Technology | 360 Security vs. Shuhua Sports Co | 360 Security vs. Everdisplay Optronics Shanghai |
| Jiangyin Haida vs. Zijin Mining Group | Jiangyin Haida vs. Wanhua Chemical Group | Jiangyin Haida vs. Baoshan Iron Steel | Jiangyin Haida vs. Shandong Gold Mining |
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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