Correlation Between Yunnan Jianzhijia and Sublime China
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By analyzing existing cross correlation between Yunnan Jianzhijia Health Chain and Sublime China Information, you can compare the effects of market volatilities on Yunnan Jianzhijia and Sublime China 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 Yunnan Jianzhijia with a short position of Sublime China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yunnan Jianzhijia and Sublime China.
Diversification Opportunities for Yunnan Jianzhijia and Sublime China
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Yunnan and Sublime is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Yunnan Jianzhijia Health Chain and Sublime China Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sublime China Information and Yunnan Jianzhijia 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 Yunnan Jianzhijia Health Chain are associated (or correlated) with Sublime China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sublime China Information has no effect on the direction of Yunnan Jianzhijia i.e., Yunnan Jianzhijia and Sublime China go up and down completely randomly.
Pair Corralation between Yunnan Jianzhijia and Sublime China
Assuming the 90 days trading horizon Yunnan Jianzhijia is expected to generate 19.74 times less return on investment than Sublime China. But when comparing it to its historical volatility, Yunnan Jianzhijia Health Chain is 2.59 times less risky than Sublime China. It trades about 0.03 of its potential returns per unit of risk. Sublime China Information is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest 6,073 in Sublime China Information on November 3, 2024 and sell it today you would earn a total of 1,935 from holding Sublime China Information or generate 31.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yunnan Jianzhijia Health Chain vs. Sublime China Information
Performance |
| Timeline |
| Yunnan Jianzhijia |
| Sublime China Information |
Yunnan Jianzhijia and Sublime China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yunnan Jianzhijia and Sublime China
The main advantage of trading using opposite Yunnan Jianzhijia and Sublime China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yunnan Jianzhijia position performs unexpectedly, Sublime China 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 Sublime China will offset losses from the drop in Sublime China's long position.| Yunnan Jianzhijia vs. Nanjing Putian Telecommunications | Yunnan Jianzhijia vs. RoadMain T Co | Yunnan Jianzhijia vs. China Satellite Communications | Yunnan Jianzhijia vs. Hainan Haiqi Transportation |
| Sublime China vs. Industrial and Commercial | Sublime China vs. Kweichow Moutai Co | Sublime China vs. Agricultural Bank of | Sublime China vs. China Mobile Limited |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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