Correlation Between Duzhe Publishing and JiShi Media
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By analyzing existing cross correlation between Duzhe Publishing Media and JiShi Media Co, you can compare the effects of market volatilities on Duzhe Publishing and JiShi Media 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 Duzhe Publishing with a short position of JiShi Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Duzhe Publishing and JiShi Media.
Diversification Opportunities for Duzhe Publishing and JiShi Media
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Duzhe and JiShi is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Duzhe Publishing Media and JiShi Media Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JiShi Media and Duzhe Publishing 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 Duzhe Publishing Media are associated (or correlated) with JiShi Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JiShi Media has no effect on the direction of Duzhe Publishing i.e., Duzhe Publishing and JiShi Media go up and down completely randomly.
Pair Corralation between Duzhe Publishing and JiShi Media
Assuming the 90 days trading horizon Duzhe Publishing is expected to generate 1.93 times less return on investment than JiShi Media. But when comparing it to its historical volatility, Duzhe Publishing Media is 1.41 times less risky than JiShi Media. It trades about 0.1 of its potential returns per unit of risk. JiShi Media Co is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 105.00 in JiShi Media Co on November 2, 2024 and sell it today you would earn a total of 64.00 from holding JiShi Media Co or generate 60.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Duzhe Publishing Media vs. JiShi Media Co
Performance |
| Timeline |
| Duzhe Publishing Media |
| JiShi Media |
Duzhe Publishing and JiShi Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Duzhe Publishing and JiShi Media
The main advantage of trading using opposite Duzhe Publishing and JiShi Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Duzhe Publishing position performs unexpectedly, JiShi Media 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 JiShi Media will offset losses from the drop in JiShi Media's long position.| Duzhe Publishing vs. CICC Fund Management | Duzhe Publishing vs. Zhejiang Construction Investment | Duzhe Publishing vs. Hunan Investment Group | Duzhe Publishing vs. Cultural Investment Holdings |
| JiShi Media vs. Chengdu Xingrong Investment | JiShi Media vs. Shanghai Material Trading | JiShi Media vs. ROPEOK Technology Group | JiShi Media vs. Cultural Investment Holdings |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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