Correlation Between JCHX Mining and China Minsheng
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By analyzing existing cross correlation between JCHX Mining Management and China Minsheng Banking, you can compare the effects of market volatilities on JCHX Mining and China Minsheng 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 China Minsheng. Check out your portfolio center. Please also check ongoing floating volatility patterns of JCHX Mining and China Minsheng.
Diversification Opportunities for JCHX Mining and China Minsheng
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between JCHX and China is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding JCHX Mining Management and China Minsheng Banking in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Minsheng Banking 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 China Minsheng. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Minsheng Banking has no effect on the direction of JCHX Mining i.e., JCHX Mining and China Minsheng go up and down completely randomly.
Pair Corralation between JCHX Mining and China Minsheng
Assuming the 90 days trading horizon JCHX Mining is expected to generate 1.42 times less return on investment than China Minsheng. In addition to that, JCHX Mining is 1.89 times more volatile than China Minsheng Banking. It trades about 0.01 of its total potential returns per unit of risk. China Minsheng Banking is currently generating about 0.02 per unit of volatility. If you would invest 401.00 in China Minsheng Banking on November 5, 2024 and sell it today you would earn a total of 14.00 from holding China Minsheng Banking or generate 3.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JCHX Mining Management vs. China Minsheng Banking
Performance |
| Timeline |
| JCHX Mining Management |
| China Minsheng Banking |
JCHX Mining and China Minsheng Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JCHX Mining and China Minsheng
The main advantage of trading using opposite JCHX Mining and China Minsheng positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JCHX Mining position performs unexpectedly, China Minsheng 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 China Minsheng will offset losses from the drop in China Minsheng's long position.| JCHX Mining vs. Xinjiang Communications Construction | JCHX Mining vs. TianJin 712 Communication | JCHX Mining vs. CICT Mobile Communication | JCHX Mining vs. Xizi Clean Energy |
| China Minsheng vs. Xiangpiaopiao Food Co | China Minsheng vs. Namchow Food Group | China Minsheng vs. Yankershop Food Co | China Minsheng vs. Jiujiang Shanshui 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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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