Correlation Between JCHX Mining and Cultural Investment
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By analyzing existing cross correlation between JCHX Mining Management and Cultural Investment Holdings, you can compare the effects of market volatilities on JCHX Mining and Cultural Investment 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 Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of JCHX Mining and Cultural Investment.
Diversification Opportunities for JCHX Mining and Cultural Investment
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between JCHX and Cultural is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding JCHX Mining Management and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural Investment 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 Cultural Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cultural Investment has no effect on the direction of JCHX Mining i.e., JCHX Mining and Cultural Investment go up and down completely randomly.
Pair Corralation between JCHX Mining and Cultural Investment
Assuming the 90 days trading horizon JCHX Mining is expected to generate 1.18 times less return on investment than Cultural Investment. But when comparing it to its historical volatility, JCHX Mining Management is 1.65 times less risky than Cultural Investment. It trades about 0.03 of its potential returns per unit of risk. Cultural Investment Holdings is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 217.00 in Cultural Investment Holdings on October 18, 2024 and sell it today you would lose (1.00) from holding Cultural Investment Holdings or give up 0.46% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JCHX Mining Management vs. Cultural Investment Holdings
Performance |
| Timeline |
| JCHX Mining Management |
| Cultural Investment |
JCHX Mining and Cultural Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JCHX Mining and Cultural Investment
The main advantage of trading using opposite JCHX Mining and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JCHX Mining position performs unexpectedly, Cultural Investment 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 Cultural Investment will offset losses from the drop in Cultural Investment's long position.| JCHX Mining vs. China Asset Management | JCHX Mining vs. Nanjing OLO Home | JCHX Mining vs. Shandong Homey Aquatic | JCHX Mining vs. Nanxing Furniture Machinery |
| Cultural Investment vs. Maxvision Technology Corp | Cultural Investment vs. Soyea Technology Co | Cultural Investment vs. Easyhome New Retail | Cultural Investment vs. 360 Security 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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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