Correlation Between JCHX Mining and Zhongtai Securities
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By analyzing existing cross correlation between JCHX Mining Management and Zhongtai Securities Co, you can compare the effects of market volatilities on JCHX Mining and Zhongtai Securities 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 Zhongtai Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of JCHX Mining and Zhongtai Securities.
Diversification Opportunities for JCHX Mining and Zhongtai Securities
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between JCHX and Zhongtai is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding JCHX Mining Management and Zhongtai Securities Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhongtai Securities 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 Zhongtai Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhongtai Securities has no effect on the direction of JCHX Mining i.e., JCHX Mining and Zhongtai Securities go up and down completely randomly.
Pair Corralation between JCHX Mining and Zhongtai Securities
Assuming the 90 days trading horizon JCHX Mining Management is expected to generate 1.2 times more return on investment than Zhongtai Securities. However, JCHX Mining is 1.2 times more volatile than Zhongtai Securities Co. It trades about 0.21 of its potential returns per unit of risk. Zhongtai Securities Co is currently generating about -0.22 per unit of risk. If you would invest 3,835 in JCHX Mining Management on October 24, 2024 and sell it today you would earn a total of 332.00 from holding JCHX Mining Management or generate 8.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
JCHX Mining Management vs. Zhongtai Securities Co
Performance |
| Timeline |
| JCHX Mining Management |
| Zhongtai Securities |
JCHX Mining and Zhongtai Securities Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JCHX Mining and Zhongtai Securities
The main advantage of trading using opposite JCHX Mining and Zhongtai Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JCHX Mining position performs unexpectedly, Zhongtai Securities 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 Zhongtai Securities will offset losses from the drop in Zhongtai Securities' long position.| JCHX Mining vs. Hunan Investment Group | JCHX Mining vs. Nuode Investment Co | JCHX Mining vs. Hubei Geoway Investment | JCHX Mining vs. Anji Foodstuff Co |
| Zhongtai Securities vs. Shandong Sinoglory Health | Zhongtai Securities vs. Yunnan Jianzhijia Health Chain | Zhongtai Securities vs. Aluminum Corp of | Zhongtai Securities vs. Hefei Metalforming Mach |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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