Correlation Between Jiangsu Pacific and Beijing Bewinner
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiangsu Pacific Quartz and Beijing Bewinner Communications, you can compare the effects of market volatilities on Jiangsu Pacific and Beijing Bewinner 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 Pacific with a short position of Beijing Bewinner. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Pacific and Beijing Bewinner.
Diversification Opportunities for Jiangsu Pacific and Beijing Bewinner
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jiangsu and Beijing is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Pacific Quartz and Beijing Bewinner Communication in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Bewinner Com and Jiangsu Pacific 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 Pacific Quartz are associated (or correlated) with Beijing Bewinner. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Bewinner Com has no effect on the direction of Jiangsu Pacific i.e., Jiangsu Pacific and Beijing Bewinner go up and down completely randomly.
Pair Corralation between Jiangsu Pacific and Beijing Bewinner
Assuming the 90 days trading horizon Jiangsu Pacific Quartz is expected to generate 0.48 times more return on investment than Beijing Bewinner. However, Jiangsu Pacific Quartz is 2.07 times less risky than Beijing Bewinner. It trades about -0.36 of its potential returns per unit of risk. Beijing Bewinner Communications is currently generating about -0.4 per unit of risk. If you would invest 2,959 in Jiangsu Pacific Quartz on October 14, 2024 and sell it today you would lose (449.00) from holding Jiangsu Pacific Quartz or give up 15.17% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Pacific Quartz vs. Beijing Bewinner Communication
Performance |
| Timeline |
| Jiangsu Pacific Quartz |
| Beijing Bewinner Com |
Jiangsu Pacific and Beijing Bewinner Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Pacific and Beijing Bewinner
The main advantage of trading using opposite Jiangsu Pacific and Beijing Bewinner positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Pacific position performs unexpectedly, Beijing Bewinner 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 Beijing Bewinner will offset losses from the drop in Beijing Bewinner's long position.| Jiangsu Pacific vs. Guangzhou Dongfang Hotel | Jiangsu Pacific vs. Eastroc Beverage Group | Jiangsu Pacific vs. SSAW Hotels Resorts | Jiangsu Pacific vs. Chongqing Brewery Co |
| Beijing Bewinner vs. Kweichow Moutai Co | Beijing Bewinner vs. Shenzhen Mindray Bio Medical | Beijing Bewinner vs. Jiangsu Pacific Quartz | Beijing Bewinner vs. G bits Network Technology |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Other Complementary Tools
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities |