Correlation Between Jiahe Foods and Inspur Software
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiahe Foods Industry and Inspur Software Co, you can compare the effects of market volatilities on Jiahe Foods and Inspur Software 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 Inspur Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiahe Foods and Inspur Software.
Diversification Opportunities for Jiahe Foods and Inspur Software
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between Jiahe and Inspur is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding Jiahe Foods Industry and Inspur Software Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inspur Software 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 Inspur Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inspur Software has no effect on the direction of Jiahe Foods i.e., Jiahe Foods and Inspur Software go up and down completely randomly.
Pair Corralation between Jiahe Foods and Inspur Software
Assuming the 90 days trading horizon Jiahe Foods Industry is expected to under-perform the Inspur Software. But the stock apears to be less risky and, when comparing its historical volatility, Jiahe Foods Industry is 1.03 times less risky than Inspur Software. The stock trades about -0.01 of its potential returns per unit of risk. The Inspur Software Co is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 1,624 in Inspur Software Co on November 2, 2024 and sell it today you would lose (145.00) from holding Inspur Software Co or give up 8.93% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiahe Foods Industry vs. Inspur Software Co
Performance |
| Timeline |
| Jiahe Foods Industry |
| Inspur Software |
Jiahe Foods and Inspur Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiahe Foods and Inspur Software
The main advantage of trading using opposite Jiahe Foods and Inspur Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiahe Foods position performs unexpectedly, Inspur Software 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 Inspur Software will offset losses from the drop in Inspur Software's long position.| Jiahe Foods vs. Simei Media Co | Jiahe Foods vs. Heilongjiang Publishing Media | Jiahe Foods vs. Mango Excellent Media | Jiahe Foods vs. Capitalonline Data Service |
| Inspur Software vs. Xinjiang Baodi Mining | Inspur Software vs. Hainan Mining Co | Inspur Software vs. Guangdong Silvere Sci | Inspur Software vs. Hunan Investment Group |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |