Correlation Between JCHX Mining and Anji Foodstuff
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By analyzing existing cross correlation between JCHX Mining Management and Anji Foodstuff Co, you can compare the effects of market volatilities on JCHX Mining and Anji Foodstuff 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 Anji Foodstuff. Check out your portfolio center. Please also check ongoing floating volatility patterns of JCHX Mining and Anji Foodstuff.
Diversification Opportunities for JCHX Mining and Anji Foodstuff
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between JCHX and Anji is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding JCHX Mining Management and Anji Foodstuff Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anji Foodstuff 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 Anji Foodstuff. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anji Foodstuff has no effect on the direction of JCHX Mining i.e., JCHX Mining and Anji Foodstuff go up and down completely randomly.
Pair Corralation between JCHX Mining and Anji Foodstuff
Assuming the 90 days trading horizon JCHX Mining Management is expected to generate 0.46 times more return on investment than Anji Foodstuff. However, JCHX Mining Management is 2.16 times less risky than Anji Foodstuff. It trades about -0.19 of its potential returns per unit of risk. Anji Foodstuff Co 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 Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JCHX Mining Management vs. Anji Foodstuff Co
Performance |
| Timeline |
| JCHX Mining Management |
| Anji Foodstuff |
JCHX Mining and Anji Foodstuff Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JCHX Mining and Anji Foodstuff
The main advantage of trading using opposite JCHX Mining and Anji Foodstuff positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JCHX Mining position performs unexpectedly, Anji Foodstuff 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 Anji Foodstuff will offset losses from the drop in Anji Foodstuff'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 |
| Anji Foodstuff vs. Vats Liquor Chain | Anji Foodstuff vs. Jiugui Liquor Co | Anji Foodstuff vs. Guocheng Mining Co | Anji Foodstuff 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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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