Correlation Between Suzhou Xingye and Jiajia Food
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By analyzing existing cross correlation between Suzhou Xingye Material and Jiajia Food Group, you can compare the effects of market volatilities on Suzhou Xingye and Jiajia Food 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 Suzhou Xingye with a short position of Jiajia Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Xingye and Jiajia Food.
Diversification Opportunities for Suzhou Xingye and Jiajia Food
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Suzhou and Jiajia is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Xingye Material and Jiajia Food Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiajia Food Group and Suzhou Xingye 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 Suzhou Xingye Material are associated (or correlated) with Jiajia Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiajia Food Group has no effect on the direction of Suzhou Xingye i.e., Suzhou Xingye and Jiajia Food go up and down completely randomly.
Pair Corralation between Suzhou Xingye and Jiajia Food
Assuming the 90 days trading horizon Suzhou Xingye Material is expected to under-perform the Jiajia Food. In addition to that, Suzhou Xingye is 1.02 times more volatile than Jiajia Food Group. It trades about -0.01 of its total potential returns per unit of risk. Jiajia Food Group is currently generating about 0.01 per unit of volatility. If you would invest 442.00 in Jiajia Food Group on October 16, 2024 and sell it today you would lose (6.00) from holding Jiajia Food Group or give up 1.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Suzhou Xingye Material vs. Jiajia Food Group
Performance |
| Timeline |
| Suzhou Xingye Material |
| Jiajia Food Group |
Suzhou Xingye and Jiajia Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Xingye and Jiajia Food
The main advantage of trading using opposite Suzhou Xingye and Jiajia Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Xingye position performs unexpectedly, Jiajia Food 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 Jiajia Food will offset losses from the drop in Jiajia Food's long position.| Suzhou Xingye vs. Inspur Software Co | Suzhou Xingye vs. Shandong Hi Speed RoadBridge | Suzhou Xingye vs. Shaanxi Broadcast TV | Suzhou Xingye vs. Hangzhou Pinming Software |
| Jiajia Food vs. Jilin Jlu Communication | Jiajia Food vs. Bank of Communications | Jiajia Food vs. Aba Chemicals Corp | Jiajia Food vs. Ningxia Younglight 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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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