Correlation Between Linewell Software and Jiangyin Haida
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By analyzing existing cross correlation between Linewell Software Co and Jiangyin Haida Rubber, you can compare the effects of market volatilities on Linewell Software and Jiangyin Haida 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 Linewell Software with a short position of Jiangyin Haida. Check out your portfolio center. Please also check ongoing floating volatility patterns of Linewell Software and Jiangyin Haida.
Diversification Opportunities for Linewell Software and Jiangyin Haida
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Linewell and Jiangyin is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Linewell Software Co and Jiangyin Haida Rubber in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangyin Haida Rubber and Linewell Software 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 Linewell Software Co are associated (or correlated) with Jiangyin Haida. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangyin Haida Rubber has no effect on the direction of Linewell Software i.e., Linewell Software and Jiangyin Haida go up and down completely randomly.
Pair Corralation between Linewell Software and Jiangyin Haida
Assuming the 90 days trading horizon Linewell Software Co is expected to generate 1.12 times more return on investment than Jiangyin Haida. However, Linewell Software is 1.12 times more volatile than Jiangyin Haida Rubber. It trades about -0.33 of its potential returns per unit of risk. Jiangyin Haida Rubber is currently generating about -0.46 per unit of risk. If you would invest 1,201 in Linewell Software Co on October 12, 2024 and sell it today you would lose (173.00) from holding Linewell Software Co or give up 14.4% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Linewell Software Co vs. Jiangyin Haida Rubber
Performance |
| Timeline |
| Linewell Software |
| Jiangyin Haida Rubber |
Linewell Software and Jiangyin Haida Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Linewell Software and Jiangyin Haida
The main advantage of trading using opposite Linewell Software and Jiangyin Haida positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Linewell Software position performs unexpectedly, Jiangyin Haida 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 Jiangyin Haida will offset losses from the drop in Jiangyin Haida's long position.| Linewell Software vs. Qiaoyin Environmental Tech | Linewell Software vs. Jiangsu Yueda Investment | Linewell Software vs. Shenzhen MYS Environmental | Linewell Software vs. Gansu Jiu Steel |
| Jiangyin Haida vs. 360 Security Technology | Jiangyin Haida vs. Linewell Software Co | Jiangyin Haida vs. Hua Xia Bank | Jiangyin Haida vs. Industrial Bank Co |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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