Correlation Between Postal Savings and Jiangsu Flowers
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By analyzing existing cross correlation between Postal Savings Bank and Jiangsu Flowers King, you can compare the effects of market volatilities on Postal Savings and Jiangsu Flowers 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 Jiangsu Flowers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Jiangsu Flowers.
Diversification Opportunities for Postal Savings and Jiangsu Flowers
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Postal and Jiangsu is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Jiangsu Flowers King in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Flowers King 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 Jiangsu Flowers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Flowers King has no effect on the direction of Postal Savings i.e., Postal Savings and Jiangsu Flowers go up and down completely randomly.
Pair Corralation between Postal Savings and Jiangsu Flowers
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.3 times more return on investment than Jiangsu Flowers. However, Postal Savings Bank is 3.36 times less risky than Jiangsu Flowers. It trades about 0.07 of its potential returns per unit of risk. Jiangsu Flowers King is currently generating about -0.1 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 Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Jiangsu Flowers King
Performance |
| Timeline |
| Postal Savings Bank |
| Jiangsu Flowers King |
Postal Savings and Jiangsu Flowers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Jiangsu Flowers
The main advantage of trading using opposite Postal Savings and Jiangsu Flowers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Jiangsu Flowers 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 Flowers will offset losses from the drop in Jiangsu Flowers' 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 |
| Jiangsu Flowers vs. Universal Scientific Industrial | Jiangsu Flowers vs. Hainan Mining Co | Jiangsu Flowers vs. Penyao Environmental Protection | Jiangsu Flowers vs. Bosera CMSK Industrial |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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