Correlation Between JCHX Mining and Loctek Ergonomic
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By analyzing existing cross correlation between JCHX Mining Management and Loctek Ergonomic Technology, you can compare the effects of market volatilities on JCHX Mining and Loctek Ergonomic 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 JCHX Mining with a short position of Loctek Ergonomic. Check out your portfolio center. Please also check ongoing floating volatility patterns of JCHX Mining and Loctek Ergonomic.
Diversification Opportunities for JCHX Mining and Loctek Ergonomic
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between JCHX and Loctek is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding JCHX Mining Management and Loctek Ergonomic Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Loctek Ergonomic Tec and JCHX Mining 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 JCHX Mining Management are associated (or correlated) with Loctek Ergonomic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Loctek Ergonomic Tec has no effect on the direction of JCHX Mining i.e., JCHX Mining and Loctek Ergonomic go up and down completely randomly.
Pair Corralation between JCHX Mining and Loctek Ergonomic
Assuming the 90 days trading horizon JCHX Mining Management is expected to generate 0.93 times more return on investment than Loctek Ergonomic. However, JCHX Mining Management is 1.08 times less risky than Loctek Ergonomic. It trades about 0.09 of its potential returns per unit of risk. Loctek Ergonomic Technology is currently generating about -0.25 per unit of risk. If you would invest 3,967 in JCHX Mining Management on October 16, 2024 and sell it today you would earn a total of 132.00 from holding JCHX Mining Management or generate 3.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JCHX Mining Management vs. Loctek Ergonomic Technology
Performance |
| Timeline |
| JCHX Mining Management |
| Loctek Ergonomic Tec |
JCHX Mining and Loctek Ergonomic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JCHX Mining and Loctek Ergonomic
The main advantage of trading using opposite JCHX Mining and Loctek Ergonomic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JCHX Mining position performs unexpectedly, Loctek Ergonomic 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 Loctek Ergonomic will offset losses from the drop in Loctek Ergonomic's long position.| JCHX Mining vs. Wuhan Yangtze Communication | JCHX Mining vs. Zoy Home Furnishing | JCHX Mining vs. Qumei Furniture Group | JCHX Mining vs. Easyhome New Retail |
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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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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