Correlation Between JiShi Media and Tianjin LVYIN
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By analyzing existing cross correlation between JiShi Media Co and Tianjin LVYIN Landscape, you can compare the effects of market volatilities on JiShi Media and Tianjin LVYIN 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 Tianjin LVYIN. Check out your portfolio center. Please also check ongoing floating volatility patterns of JiShi Media and Tianjin LVYIN.
Diversification Opportunities for JiShi Media and Tianjin LVYIN
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between JiShi and Tianjin is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding JiShi Media Co and Tianjin LVYIN Landscape in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tianjin LVYIN Landscape 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 Tianjin LVYIN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tianjin LVYIN Landscape has no effect on the direction of JiShi Media i.e., JiShi Media and Tianjin LVYIN go up and down completely randomly.
Pair Corralation between JiShi Media and Tianjin LVYIN
Assuming the 90 days trading horizon JiShi Media Co is expected to generate 1.55 times more return on investment than Tianjin LVYIN. However, JiShi Media is 1.55 times more volatile than Tianjin LVYIN Landscape. It trades about 0.11 of its potential returns per unit of risk. Tianjin LVYIN Landscape is currently generating about -0.03 per unit of risk. If you would invest 175.00 in JiShi Media Co on September 26, 2024 and sell it today you would earn a total of 18.00 from holding JiShi Media Co or generate 10.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
JiShi Media Co vs. Tianjin LVYIN Landscape
Performance |
| Timeline |
| JiShi Media |
| Tianjin LVYIN Landscape |
JiShi Media and Tianjin LVYIN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JiShi Media and Tianjin LVYIN
The main advantage of trading using opposite JiShi Media and Tianjin LVYIN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JiShi Media position performs unexpectedly, Tianjin LVYIN 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 Tianjin LVYIN will offset losses from the drop in Tianjin LVYIN's long position.| JiShi Media vs. Industrial and Commercial | JiShi Media vs. Kweichow Moutai Co | JiShi Media vs. Agricultural Bank of | JiShi Media vs. China Mobile Limited |
| Tianjin LVYIN vs. Ming Yang Smart | Tianjin LVYIN vs. 159681 | Tianjin LVYIN vs. 159005 | Tianjin LVYIN vs. Loctek Ergonomic Technology |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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