Correlation Between Ye Chiu and Jiangsu Broadcasting
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By analyzing existing cross correlation between Ye Chiu Metal and Jiangsu Broadcasting Cable, you can compare the effects of market volatilities on Ye Chiu and Jiangsu Broadcasting 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 Ye Chiu with a short position of Jiangsu Broadcasting. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ye Chiu and Jiangsu Broadcasting.
Diversification Opportunities for Ye Chiu and Jiangsu Broadcasting
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between 601388 and Jiangsu is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Ye Chiu Metal and Jiangsu Broadcasting Cable in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Broadcasting and Ye Chiu 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 Ye Chiu Metal are associated (or correlated) with Jiangsu Broadcasting. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Broadcasting has no effect on the direction of Ye Chiu i.e., Ye Chiu and Jiangsu Broadcasting go up and down completely randomly.
Pair Corralation between Ye Chiu and Jiangsu Broadcasting
Assuming the 90 days trading horizon Ye Chiu Metal is expected to generate 1.19 times more return on investment than Jiangsu Broadcasting. However, Ye Chiu is 1.19 times more volatile than Jiangsu Broadcasting Cable. It trades about -0.52 of its potential returns per unit of risk. Jiangsu Broadcasting Cable is currently generating about -0.71 per unit of risk. If you would invest 290.00 in Ye Chiu Metal on October 16, 2024 and sell it today you would lose (54.00) from holding Ye Chiu Metal or give up 18.62% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ye Chiu Metal vs. Jiangsu Broadcasting Cable
Performance |
| Timeline |
| Ye Chiu Metal |
| Jiangsu Broadcasting |
Ye Chiu and Jiangsu Broadcasting Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ye Chiu and Jiangsu Broadcasting
The main advantage of trading using opposite Ye Chiu and Jiangsu Broadcasting positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ye Chiu position performs unexpectedly, Jiangsu Broadcasting 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 Jiangsu Broadcasting will offset losses from the drop in Jiangsu Broadcasting's long position.| Ye Chiu vs. Allwin Telecommunication Co | Ye Chiu vs. Beijing Bewinner Communications | Ye Chiu vs. Dr Peng Telecom | Ye Chiu vs. State Grid InformationCommunication |
| Jiangsu Broadcasting vs. Ye Chiu Metal | Jiangsu Broadcasting vs. CIMC Vehicles Co | Jiangsu Broadcasting vs. Jiangsu Xinri E Vehicle | Jiangsu Broadcasting vs. Anhui Tongguan Copper |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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