Correlation Between Postal Savings and Jiangxi Ganfeng
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By analyzing existing cross correlation between Postal Savings Bank and Jiangxi Ganfeng Lithium, you can compare the effects of market volatilities on Postal Savings and Jiangxi Ganfeng 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 Postal Savings with a short position of Jiangxi Ganfeng. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Jiangxi Ganfeng.
Diversification Opportunities for Postal Savings and Jiangxi Ganfeng
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Postal and Jiangxi is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Jiangxi Ganfeng Lithium in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangxi Ganfeng Lithium and Postal Savings 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 Postal Savings Bank are associated (or correlated) with Jiangxi Ganfeng. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangxi Ganfeng Lithium has no effect on the direction of Postal Savings i.e., Postal Savings and Jiangxi Ganfeng go up and down completely randomly.
Pair Corralation between Postal Savings and Jiangxi Ganfeng
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.84 times more return on investment than Jiangxi Ganfeng. However, Postal Savings Bank is 1.19 times less risky than Jiangxi Ganfeng. It trades about -0.07 of its potential returns per unit of risk. Jiangxi Ganfeng Lithium is currently generating about -0.47 per unit of risk. If you would invest 529.00 in Postal Savings Bank on January 5, 2025 and sell it today you would lose (7.00) from holding Postal Savings Bank or give up 1.32% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Jiangxi Ganfeng Lithium
Performance |
| Timeline |
| Postal Savings Bank |
| Jiangxi Ganfeng Lithium |
Postal Savings and Jiangxi Ganfeng Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Jiangxi Ganfeng
The main advantage of trading using opposite Postal Savings and Jiangxi Ganfeng positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Jiangxi Ganfeng 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 Jiangxi Ganfeng will offset losses from the drop in Jiangxi Ganfeng's long position.| Postal Savings vs. Shanghai Yanpu Metal | Postal Savings vs. Ye Chiu Metal | Postal Savings vs. Jiaozuo Wanfang Aluminum | Postal Savings vs. Nanjing Putian Telecommunications |
| Jiangxi Ganfeng vs. Anhui Jianghuai Automobile | Jiangxi Ganfeng vs. CIMC Vehicles Co | Jiangxi Ganfeng vs. SUNSEA Telecommunications Co | Jiangxi Ganfeng vs. Zhejiang Qianjiang Motorcycle |
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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