Correlation Between Jinhui Liquor and Lander Sports
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By analyzing existing cross correlation between Jinhui Liquor Co and Lander Sports Development, you can compare the effects of market volatilities on Jinhui Liquor and Lander Sports 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 Jinhui Liquor with a short position of Lander Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jinhui Liquor and Lander Sports.
Diversification Opportunities for Jinhui Liquor and Lander Sports
0.02 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Jinhui and Lander is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Jinhui Liquor Co and Lander Sports Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lander Sports Development and Jinhui Liquor 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 Jinhui Liquor Co are associated (or correlated) with Lander Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lander Sports Development has no effect on the direction of Jinhui Liquor i.e., Jinhui Liquor and Lander Sports go up and down completely randomly.
Pair Corralation between Jinhui Liquor and Lander Sports
Assuming the 90 days trading horizon Jinhui Liquor Co is expected to under-perform the Lander Sports. But the stock apears to be less risky and, when comparing its historical volatility, Jinhui Liquor Co is 1.36 times less risky than Lander Sports. The stock trades about -0.03 of its potential returns per unit of risk. The Lander Sports Development is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 282.00 in Lander Sports Development on November 27, 2024 and sell it today you would earn a total of 61.00 from holding Lander Sports Development or generate 21.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jinhui Liquor Co vs. Lander Sports Development
Performance |
| Timeline |
| Jinhui Liquor |
| Lander Sports Development |
Jinhui Liquor and Lander Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jinhui Liquor and Lander Sports
The main advantage of trading using opposite Jinhui Liquor and Lander Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jinhui Liquor position performs unexpectedly, Lander Sports 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 Lander Sports will offset losses from the drop in Lander Sports' long position.| Jinhui Liquor vs. Fujian Newland Computer | Jinhui Liquor vs. Wintao Communications Co | Jinhui Liquor vs. Gansu Huangtai Wine marketing | Jinhui Liquor vs. Shanghai Shibei Hi Tech |
| Lander Sports vs. HanS Laser Tech | Lander Sports vs. Yingde Greatchem Chemicals | Lander Sports vs. HUAQIN TECHNOLOGY LTD | Lander Sports vs. Hubei Xingfa Chemicals |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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