Correlation Between Jiangsu Flowers and Guilin Seamild
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By analyzing existing cross correlation between Jiangsu Flowers King and Guilin Seamild Foods, you can compare the effects of market volatilities on Jiangsu Flowers and Guilin Seamild 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 Flowers with a short position of Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Flowers and Guilin Seamild.
Diversification Opportunities for Jiangsu Flowers and Guilin Seamild
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Jiangsu and Guilin is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Flowers King and Guilin Seamild Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guilin Seamild Foods and Jiangsu Flowers 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 Flowers King are associated (or correlated) with Guilin Seamild. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guilin Seamild Foods has no effect on the direction of Jiangsu Flowers i.e., Jiangsu Flowers and Guilin Seamild go up and down completely randomly.
Pair Corralation between Jiangsu Flowers and Guilin Seamild
Assuming the 90 days trading horizon Jiangsu Flowers King is expected to under-perform the Guilin Seamild. In addition to that, Jiangsu Flowers is 2.97 times more volatile than Guilin Seamild Foods. It trades about 0.0 of its total potential returns per unit of risk. Guilin Seamild Foods is currently generating about 0.1 per unit of volatility. If you would invest 1,562 in Guilin Seamild Foods on October 23, 2024 and sell it today you would earn a total of 78.00 from holding Guilin Seamild Foods or generate 4.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Flowers King vs. Guilin Seamild Foods
Performance |
| Timeline |
| Jiangsu Flowers King |
| Guilin Seamild Foods |
Jiangsu Flowers and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Flowers and Guilin Seamild
The main advantage of trading using opposite Jiangsu Flowers and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Flowers position performs unexpectedly, Guilin Seamild 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 Guilin Seamild will offset losses from the drop in Guilin Seamild's long position.| Jiangsu Flowers vs. ButOne Information Corp | Jiangsu Flowers vs. Zhongfu Information | Jiangsu Flowers vs. Jinxiandai Information Industry | Jiangsu Flowers vs. Guangzhou Ruoyuchen Information |
| Guilin Seamild vs. Cambricon Technologies Corp | Guilin Seamild vs. SGSG Sciencetechnology Co | Guilin Seamild vs. Loongson Technology Corp | Guilin Seamild vs. Jiangsu Flowers King |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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