Correlation Between JCHX Mining and Sunny Loan
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By analyzing existing cross correlation between JCHX Mining Management and Sunny Loan Top, you can compare the effects of market volatilities on JCHX Mining and Sunny Loan 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 Sunny Loan. Check out your portfolio center. Please also check ongoing floating volatility patterns of JCHX Mining and Sunny Loan.
Diversification Opportunities for JCHX Mining and Sunny Loan
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between JCHX and Sunny is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding JCHX Mining Management and Sunny Loan Top in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sunny Loan Top 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 Sunny Loan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sunny Loan Top has no effect on the direction of JCHX Mining i.e., JCHX Mining and Sunny Loan go up and down completely randomly.
Pair Corralation between JCHX Mining and Sunny Loan
Assuming the 90 days trading horizon JCHX Mining Management is expected to generate 0.47 times more return on investment than Sunny Loan. However, JCHX Mining Management is 2.12 times less risky than Sunny Loan. It trades about -0.19 of its potential returns per unit of risk. Sunny Loan Top is currently generating about -0.28 per unit of risk. If you would invest 4,254 in JCHX Mining Management on October 12, 2024 and sell it today you would lose (347.00) from holding JCHX Mining Management or give up 8.16% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
JCHX Mining Management vs. Sunny Loan Top
Performance |
Timeline |
JCHX Mining Management |
Sunny Loan Top |
JCHX Mining and Sunny Loan Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with JCHX Mining and Sunny Loan
The main advantage of trading using opposite JCHX Mining and Sunny Loan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JCHX Mining position performs unexpectedly, Sunny Loan 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 Sunny Loan will offset losses from the drop in Sunny Loan's long position.JCHX Mining vs. Hangzhou Pinming Software | JCHX Mining vs. China Publishing Media | JCHX Mining vs. Beijing Baolande Software | JCHX Mining vs. Guangzhou Jinyi Media |
Sunny Loan vs. Puya Semiconductor Shanghai | Sunny Loan vs. Suzhou Oriental Semiconductor | Sunny Loan vs. Ingenic Semiconductor | Sunny Loan vs. JCHX Mining Management |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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