Correlation Between JCHX Mining and Duzhe Publishing
Specify exactly 2 symbols:
By analyzing existing cross correlation between JCHX Mining Management and Duzhe Publishing Media, you can compare the effects of market volatilities on JCHX Mining and Duzhe Publishing 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 Duzhe Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of JCHX Mining and Duzhe Publishing.
Diversification Opportunities for JCHX Mining and Duzhe Publishing
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between JCHX and Duzhe is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding JCHX Mining Management and Duzhe Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Duzhe Publishing Media 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 Duzhe Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Duzhe Publishing Media has no effect on the direction of JCHX Mining i.e., JCHX Mining and Duzhe Publishing go up and down completely randomly.
Pair Corralation between JCHX Mining and Duzhe Publishing
Assuming the 90 days trading horizon JCHX Mining Management is expected to generate 0.77 times more return on investment than Duzhe Publishing. However, JCHX Mining Management is 1.3 times less risky than Duzhe Publishing. It trades about 0.04 of its potential returns per unit of risk. Duzhe Publishing Media is currently generating about 0.02 per unit of risk. If you would invest 3,442 in JCHX Mining Management on October 16, 2024 and sell it today you would earn a total of 657.00 from holding JCHX Mining Management or generate 19.09% 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. Duzhe Publishing Media
Performance |
| Timeline |
| JCHX Mining Management |
| Duzhe Publishing Media |
JCHX Mining and Duzhe Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JCHX Mining and Duzhe Publishing
The main advantage of trading using opposite JCHX Mining and Duzhe Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JCHX Mining position performs unexpectedly, Duzhe Publishing 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 Duzhe Publishing will offset losses from the drop in Duzhe Publishing's long position.| JCHX Mining vs. Xinjiang Tianrun Dairy | JCHX Mining vs. Guotai Epoint Software | JCHX Mining vs. Jiangxi Sunshine Dairy | JCHX Mining vs. Yankershop Food Co |
| Duzhe Publishing vs. Cowealth Medical China | Duzhe Publishing vs. Winner Medical Co | Duzhe Publishing vs. Zhonghong Pulin Medical | Duzhe Publishing vs. Touchstone International Medical |
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine |