Correlation Between Juewei Food and Shanghai Ziyan
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By analyzing existing cross correlation between Juewei Food Co and Shanghai Ziyan Foods, you can compare the effects of market volatilities on Juewei Food and Shanghai Ziyan 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 Juewei Food with a short position of Shanghai Ziyan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Juewei Food and Shanghai Ziyan.
Diversification Opportunities for Juewei Food and Shanghai Ziyan
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Juewei and Shanghai is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Juewei Food Co and Shanghai Ziyan Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Ziyan Foods and Juewei Food 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 Juewei Food Co are associated (or correlated) with Shanghai Ziyan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Ziyan Foods has no effect on the direction of Juewei Food i.e., Juewei Food and Shanghai Ziyan go up and down completely randomly.
Pair Corralation between Juewei Food and Shanghai Ziyan
Assuming the 90 days trading horizon Juewei Food Co is expected to under-perform the Shanghai Ziyan. In addition to that, Juewei Food is 1.25 times more volatile than Shanghai Ziyan Foods. It trades about -0.07 of its total potential returns per unit of risk. Shanghai Ziyan Foods is currently generating about -0.03 per unit of volatility. If you would invest 2,785 in Shanghai Ziyan Foods on August 28, 2024 and sell it today you would lose (915.00) from holding Shanghai Ziyan Foods or give up 32.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Juewei Food Co vs. Shanghai Ziyan Foods
Performance |
| Timeline |
| Juewei Food |
| Shanghai Ziyan Foods |
Juewei Food and Shanghai Ziyan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Juewei Food and Shanghai Ziyan
The main advantage of trading using opposite Juewei Food and Shanghai Ziyan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Juewei Food position performs unexpectedly, Shanghai Ziyan 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 Shanghai Ziyan will offset losses from the drop in Shanghai Ziyan's long position.| Juewei Food vs. Uxi Unicomp Technology | Juewei Food vs. Kunshan Guoli Electronic | Juewei Food vs. Success Electronics | Juewei Food vs. ROPEOK Technology Group |
| Shanghai Ziyan vs. Industrial and Commercial | Shanghai Ziyan vs. Agricultural Bank of | Shanghai Ziyan vs. China Construction Bank | Shanghai Ziyan vs. Bank of China |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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