Correlation Between Postal Savings and Jinzai Food
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By analyzing existing cross correlation between Postal Savings Bank and Jinzai Food Group, you can compare the effects of market volatilities on Postal Savings and Jinzai Food 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 Jinzai Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Jinzai Food.
Diversification Opportunities for Postal Savings and Jinzai Food
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Postal and Jinzai is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Jinzai Food Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jinzai Food Group 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 Jinzai Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jinzai Food Group has no effect on the direction of Postal Savings i.e., Postal Savings and Jinzai Food go up and down completely randomly.
Pair Corralation between Postal Savings and Jinzai Food
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.55 times more return on investment than Jinzai Food. However, Postal Savings Bank is 1.8 times less risky than Jinzai Food. It trades about 0.07 of its potential returns per unit of risk. Jinzai Food Group is currently generating about -0.26 per unit of risk. If you would invest 534.00 in Postal Savings Bank on November 4, 2024 and sell it today you would earn a total of 7.00 from holding Postal Savings Bank or generate 1.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Jinzai Food Group
Performance |
| Timeline |
| Postal Savings Bank |
| Jinzai Food Group |
Postal Savings and Jinzai Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Jinzai Food
The main advantage of trading using opposite Postal Savings and Jinzai Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Jinzai Food 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 Jinzai Food will offset losses from the drop in Jinzai Food's long position.| Postal Savings vs. Hangzhou Pinming Software | Postal Savings vs. Luyin Investment Group | Postal Savings vs. Nuode Investment Co | Postal Savings vs. China Asset Management |
| Jinzai Food vs. Shandong Rike Chemical | Jinzai Food vs. Sichuan Fulin Transportation | Jinzai Food vs. Hainan Haiqi Transportation | Jinzai Food vs. Sportsoul Co Ltd |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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