Correlation Between Jiahe Foods and De Rucci
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By analyzing existing cross correlation between Jiahe Foods Industry and De Rucci Healthy, you can compare the effects of market volatilities on Jiahe Foods and De Rucci 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 Jiahe Foods with a short position of De Rucci. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiahe Foods and De Rucci.
Diversification Opportunities for Jiahe Foods and De Rucci
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jiahe and 001323 is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Jiahe Foods Industry and De Rucci Healthy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on De Rucci Healthy and Jiahe Foods 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 Jiahe Foods Industry are associated (or correlated) with De Rucci. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of De Rucci Healthy has no effect on the direction of Jiahe Foods i.e., Jiahe Foods and De Rucci go up and down completely randomly.
Pair Corralation between Jiahe Foods and De Rucci
Assuming the 90 days trading horizon Jiahe Foods Industry is expected to under-perform the De Rucci. In addition to that, Jiahe Foods is 1.27 times more volatile than De Rucci Healthy. It trades about -0.01 of its total potential returns per unit of risk. De Rucci Healthy is currently generating about 0.02 per unit of volatility. If you would invest 3,295 in De Rucci Healthy on October 12, 2024 and sell it today you would earn a total of 321.00 from holding De Rucci Healthy or generate 9.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiahe Foods Industry vs. De Rucci Healthy
Performance |
| Timeline |
| Jiahe Foods Industry |
| De Rucci Healthy |
Jiahe Foods and De Rucci Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiahe Foods and De Rucci
The main advantage of trading using opposite Jiahe Foods and De Rucci positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiahe Foods position performs unexpectedly, De Rucci 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 De Rucci will offset losses from the drop in De Rucci's long position.| Jiahe Foods vs. Industrial and Commercial | Jiahe Foods vs. Agricultural Bank of | Jiahe Foods vs. China Construction Bank | Jiahe Foods vs. Bank of China |
| De Rucci vs. Beijing Sanyuan Foods | De Rucci vs. Jiahe Foods Industry | De Rucci vs. Shandong Sinoglory Health | De Rucci vs. Youyou Foods Co |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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