Correlation Between JiShi Media and Wintao Communications
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By analyzing existing cross correlation between JiShi Media Co and Wintao Communications Co, you can compare the effects of market volatilities on JiShi Media and Wintao Communications 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 Wintao Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of JiShi Media and Wintao Communications.
Diversification Opportunities for JiShi Media and Wintao Communications
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JiShi and Wintao is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JiShi Media Co and Wintao Communications Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wintao Communications 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 Wintao Communications. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wintao Communications has no effect on the direction of JiShi Media i.e., JiShi Media and Wintao Communications go up and down completely randomly.
Pair Corralation between JiShi Media and Wintao Communications
If you would invest 0.00 in Wintao Communications Co on November 8, 2024 and sell it today you would earn a total of 0.00 from holding Wintao Communications Co or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JiShi Media Co vs. Wintao Communications Co
Performance |
| Timeline |
| JiShi Media |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Wintao Communications |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
JiShi Media and Wintao Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JiShi Media and Wintao Communications
The main advantage of trading using opposite JiShi Media and Wintao Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JiShi Media position performs unexpectedly, Wintao Communications 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 Wintao Communications will offset losses from the drop in Wintao Communications' long position.The idea behind JiShi Media Co and Wintao Communications Co pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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