Correlation Between Jadard Technology and Dr Peng
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By analyzing existing cross correlation between Jadard Technology A and Dr Peng Telecom, you can compare the effects of market volatilities on Jadard Technology and Dr Peng 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 Jadard Technology with a short position of Dr Peng. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jadard Technology and Dr Peng.
Diversification Opportunities for Jadard Technology and Dr Peng
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Jadard and 600804 is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Jadard Technology A and Dr Peng Telecom in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dr Peng Telecom and Jadard Technology 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 Jadard Technology A are associated (or correlated) with Dr Peng. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dr Peng Telecom has no effect on the direction of Jadard Technology i.e., Jadard Technology and Dr Peng go up and down completely randomly.
Pair Corralation between Jadard Technology and Dr Peng
Assuming the 90 days trading horizon Jadard Technology is expected to generate 20.91 times less return on investment than Dr Peng. But when comparing it to its historical volatility, Jadard Technology A is 1.54 times less risky than Dr Peng. It trades about 0.01 of its potential returns per unit of risk. Dr Peng Telecom is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 202.00 in Dr Peng Telecom on September 13, 2024 and sell it today you would earn a total of 21.00 from holding Dr Peng Telecom or generate 10.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Jadard Technology A vs. Dr Peng Telecom
Performance |
| Timeline |
| Jadard Technology |
| Dr Peng Telecom |
Jadard Technology and Dr Peng Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jadard Technology and Dr Peng
The main advantage of trading using opposite Jadard Technology and Dr Peng positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jadard Technology position performs unexpectedly, Dr Peng 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 Dr Peng will offset losses from the drop in Dr Peng's long position.| Jadard Technology vs. Dr Peng Telecom | Jadard Technology vs. Zhengzhou Coal Mining | Jadard Technology vs. Shenzhen Kexin Communication | Jadard Technology vs. Guangdong Silvere Sci |
| Dr Peng vs. Industrial and Commercial | Dr Peng vs. China Construction Bank | Dr Peng vs. Agricultural Bank of | Dr Peng vs. Bank of China |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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