Correlation Between JiShi Media and Dhc Software
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By analyzing existing cross correlation between JiShi Media Co and Dhc Software Co, you can compare the effects of market volatilities on JiShi Media and Dhc Software 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 JiShi Media with a short position of Dhc Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of JiShi Media and Dhc Software.
Diversification Opportunities for JiShi Media and Dhc Software
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between JiShi and Dhc is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding JiShi Media Co and Dhc Software Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dhc Software and JiShi Media 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 JiShi Media Co are associated (or correlated) with Dhc Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dhc Software has no effect on the direction of JiShi Media i.e., JiShi Media and Dhc Software go up and down completely randomly.
Pair Corralation between JiShi Media and Dhc Software
Assuming the 90 days trading horizon JiShi Media Co is expected to generate 1.04 times more return on investment than Dhc Software. However, JiShi Media is 1.04 times more volatile than Dhc Software Co. It trades about 0.25 of its potential returns per unit of risk. Dhc Software Co is currently generating about 0.24 per unit of risk. If you would invest 105.00 in JiShi Media Co on September 3, 2024 and sell it today you would earn a total of 80.00 from holding JiShi Media Co or generate 76.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
JiShi Media Co vs. Dhc Software Co
Performance |
| Timeline |
| JiShi Media |
| Dhc Software |
JiShi Media and Dhc Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JiShi Media and Dhc Software
The main advantage of trading using opposite JiShi Media and Dhc Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JiShi Media position performs unexpectedly, Dhc Software 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 Dhc Software will offset losses from the drop in Dhc Software's long position.| JiShi Media vs. Gansu Jiu Steel | JiShi Media vs. Ming Yang Smart | JiShi Media vs. Aba Chemicals Corp | JiShi Media vs. Loctek Ergonomic Technology |
| Dhc Software vs. Guangzhou Haige Communications | Dhc Software vs. Shanghai Yaoji Playing | Dhc Software vs. Tongyu Communication | Dhc Software vs. Guangzhou Restaurants Group |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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