Correlation Between Anji Foodstuff and JCHX Mining
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By analyzing existing cross correlation between Anji Foodstuff Co and JCHX Mining Management, you can compare the effects of market volatilities on Anji Foodstuff and JCHX Mining 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 Anji Foodstuff with a short position of JCHX Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and JCHX Mining.
Diversification Opportunities for Anji Foodstuff and JCHX Mining
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Anji and JCHX is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff Co and JCHX Mining Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JCHX Mining Management and Anji Foodstuff 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 Anji Foodstuff Co are associated (or correlated) with JCHX Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JCHX Mining Management has no effect on the direction of Anji Foodstuff i.e., Anji Foodstuff and JCHX Mining go up and down completely randomly.
Pair Corralation between Anji Foodstuff and JCHX Mining
Assuming the 90 days trading horizon Anji Foodstuff Co is expected to under-perform the JCHX Mining. In addition to that, Anji Foodstuff is 1.36 times more volatile than JCHX Mining Management. It trades about -0.08 of its total potential returns per unit of risk. JCHX Mining Management is currently generating about 0.32 per unit of volatility. If you would invest 3,562 in JCHX Mining Management on November 3, 2024 and sell it today you would earn a total of 429.00 from holding JCHX Mining Management or generate 12.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anji Foodstuff Co vs. JCHX Mining Management
Performance |
| Timeline |
| Anji Foodstuff |
| JCHX Mining Management |
Anji Foodstuff and JCHX Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and JCHX Mining
The main advantage of trading using opposite Anji Foodstuff and JCHX Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff position performs unexpectedly, JCHX Mining 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 JCHX Mining will offset losses from the drop in JCHX Mining's long position.| Anji Foodstuff vs. Anhui Huaheng Biotechnology | Anji Foodstuff vs. Double Medical Technology | Anji Foodstuff vs. Shanghai Rightongene Biotechnology | Anji Foodstuff vs. Zhonghong Pulin Medical |
| JCHX Mining vs. Tianjin Ruixin Technology | JCHX Mining vs. Tangel Publishing | JCHX Mining vs. COL Digital Publishing | JCHX Mining vs. Northking Information 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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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