Correlation Between Zhuhai Comleader and Gansu Jiu
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By analyzing existing cross correlation between Zhuhai Comleader Information and Gansu Jiu Steel, you can compare the effects of market volatilities on Zhuhai Comleader and Gansu Jiu 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 Zhuhai Comleader with a short position of Gansu Jiu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zhuhai Comleader and Gansu Jiu.
Diversification Opportunities for Zhuhai Comleader and Gansu Jiu
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Zhuhai and Gansu is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Zhuhai Comleader Information and Gansu Jiu Steel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gansu Jiu Steel and Zhuhai Comleader 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 Zhuhai Comleader Information are associated (or correlated) with Gansu Jiu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gansu Jiu Steel has no effect on the direction of Zhuhai Comleader i.e., Zhuhai Comleader and Gansu Jiu go up and down completely randomly.
Pair Corralation between Zhuhai Comleader and Gansu Jiu
Assuming the 90 days trading horizon Zhuhai Comleader Information is expected to generate 1.27 times more return on investment than Gansu Jiu. However, Zhuhai Comleader is 1.27 times more volatile than Gansu Jiu Steel. It trades about 0.15 of its potential returns per unit of risk. Gansu Jiu Steel is currently generating about 0.15 per unit of risk. If you would invest 1,929 in Zhuhai Comleader Information on September 13, 2024 and sell it today you would earn a total of 182.00 from holding Zhuhai Comleader Information or generate 9.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Zhuhai Comleader Information vs. Gansu Jiu Steel
Performance |
| Timeline |
| Zhuhai Comleader Inf |
| Gansu Jiu Steel |
Zhuhai Comleader and Gansu Jiu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zhuhai Comleader and Gansu Jiu
The main advantage of trading using opposite Zhuhai Comleader and Gansu Jiu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zhuhai Comleader position performs unexpectedly, Gansu Jiu 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 Gansu Jiu will offset losses from the drop in Gansu Jiu's long position.| Zhuhai Comleader vs. Industrial and Commercial | Zhuhai Comleader vs. China Construction Bank | Zhuhai Comleader vs. Bank of China | Zhuhai Comleader vs. Agricultural Bank of |
| Gansu Jiu vs. China Construction Bank | Gansu Jiu vs. Industrial Bank Co | Gansu Jiu vs. Gansu Huangtai Wine marketing | Gansu Jiu vs. Guosheng Financial Holding |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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