Correlation Between Jiangyin Jianghua and Cinda Securities
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By analyzing existing cross correlation between Jiangyin Jianghua Microelectronics and Cinda Securities Co, you can compare the effects of market volatilities on Jiangyin Jianghua and Cinda Securities 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 Jiangyin Jianghua with a short position of Cinda Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangyin Jianghua and Cinda Securities.
Diversification Opportunities for Jiangyin Jianghua and Cinda Securities
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Jiangyin and Cinda is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Jiangyin Jianghua Microelectro and Cinda Securities Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cinda Securities and Jiangyin Jianghua 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 Jiangyin Jianghua Microelectronics are associated (or correlated) with Cinda Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cinda Securities has no effect on the direction of Jiangyin Jianghua i.e., Jiangyin Jianghua and Cinda Securities go up and down completely randomly.
Pair Corralation between Jiangyin Jianghua and Cinda Securities
Assuming the 90 days trading horizon Jiangyin Jianghua Microelectronics is expected to under-perform the Cinda Securities. In addition to that, Jiangyin Jianghua is 1.13 times more volatile than Cinda Securities Co. It trades about -0.35 of its total potential returns per unit of risk. Cinda Securities Co is currently generating about -0.27 per unit of volatility. If you would invest 1,596 in Cinda Securities Co on October 12, 2024 and sell it today you would lose (220.00) from holding Cinda Securities Co or give up 13.78% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangyin Jianghua Microelectro vs. Cinda Securities Co
Performance |
| Timeline |
| Jiangyin Jianghua |
| Cinda Securities |
Jiangyin Jianghua and Cinda Securities Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangyin Jianghua and Cinda Securities
The main advantage of trading using opposite Jiangyin Jianghua and Cinda Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangyin Jianghua position performs unexpectedly, Cinda Securities 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 Cinda Securities will offset losses from the drop in Cinda Securities' long position.| Jiangyin Jianghua vs. Cloud Live Technology | Jiangyin Jianghua vs. Nanjing Putian Telecommunications | Jiangyin Jianghua vs. Tianjin Realty Development | Jiangyin Jianghua vs. Shenzhen Coship Electronics |
| Cinda Securities vs. Glodon Software Co | Cinda Securities vs. Jiangyin Jianghua Microelectronics | Cinda Securities vs. Fuzhou Rockchip Electronics | Cinda Securities vs. Weihai Honglin Electronic |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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