Correlation Between Jiangsu Phoenix and Shanghai Jin
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By analyzing existing cross correlation between Jiangsu Phoenix Publishing and Shanghai Jin Jiang, you can compare the effects of market volatilities on Jiangsu Phoenix and Shanghai Jin 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 Jiangsu Phoenix with a short position of Shanghai Jin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Phoenix and Shanghai Jin.
Diversification Opportunities for Jiangsu Phoenix and Shanghai Jin
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jiangsu and Shanghai is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Phoenix Publishing and Shanghai Jin Jiang in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Jin Jiang and Jiangsu Phoenix 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 Jiangsu Phoenix Publishing are associated (or correlated) with Shanghai Jin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Jin Jiang has no effect on the direction of Jiangsu Phoenix i.e., Jiangsu Phoenix and Shanghai Jin go up and down completely randomly.
Pair Corralation between Jiangsu Phoenix and Shanghai Jin
If you would invest 780.00 in Jiangsu Phoenix Publishing on October 30, 2024 and sell it today you would earn a total of 346.00 from holding Jiangsu Phoenix Publishing or generate 44.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.21% |
| Values | Daily Returns |
Jiangsu Phoenix Publishing vs. Shanghai Jin Jiang
Performance |
| Timeline |
| Jiangsu Phoenix Publ |
| Shanghai Jin Jiang |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Jiangsu Phoenix and Shanghai Jin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Phoenix and Shanghai Jin
The main advantage of trading using opposite Jiangsu Phoenix and Shanghai Jin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Phoenix position performs unexpectedly, Shanghai Jin 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 Shanghai Jin will offset losses from the drop in Shanghai Jin's long position.| Jiangsu Phoenix vs. Bus Online Co | Jiangsu Phoenix vs. Holitech Technology Co | Jiangsu Phoenix vs. Gome Telecom Equipment | Jiangsu Phoenix vs. Cultural Investment Holdings |
| Shanghai Jin vs. Jahen Household Products | Shanghai Jin vs. Chengtun Mining Group | Shanghai Jin vs. Anhui Deli Household | Shanghai Jin vs. Gem Year Industrial Co |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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