Correlation Between Jiangsu Bioperfectus and China Publishing
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By analyzing existing cross correlation between Jiangsu Bioperfectus Technologies and China Publishing Media, you can compare the effects of market volatilities on Jiangsu Bioperfectus and China Publishing 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 Jiangsu Bioperfectus with a short position of China Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Bioperfectus and China Publishing.
Diversification Opportunities for Jiangsu Bioperfectus and China Publishing
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Jiangsu and China is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Bioperfectus Technolog and China Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Publishing Media and Jiangsu Bioperfectus 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 Jiangsu Bioperfectus Technologies are associated (or correlated) with China Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Publishing Media has no effect on the direction of Jiangsu Bioperfectus i.e., Jiangsu Bioperfectus and China Publishing go up and down completely randomly.
Pair Corralation between Jiangsu Bioperfectus and China Publishing
Assuming the 90 days trading horizon Jiangsu Bioperfectus Technologies is expected to under-perform the China Publishing. But the stock apears to be less risky and, when comparing its historical volatility, Jiangsu Bioperfectus Technologies is 1.79 times less risky than China Publishing. The stock trades about -0.17 of its potential returns per unit of risk. The China Publishing Media is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest 678.00 in China Publishing Media on September 4, 2024 and sell it today you would earn a total of 157.00 from holding China Publishing Media or generate 23.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Bioperfectus Technolog vs. China Publishing Media
Performance |
| Timeline |
| Jiangsu Bioperfectus |
| China Publishing Media |
Jiangsu Bioperfectus and China Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Bioperfectus and China Publishing
The main advantage of trading using opposite Jiangsu Bioperfectus and China Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Bioperfectus position performs unexpectedly, China Publishing 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 China Publishing will offset losses from the drop in China Publishing's long position.| Jiangsu Bioperfectus vs. China Publishing Media | Jiangsu Bioperfectus vs. Kingclean Electric Co | Jiangsu Bioperfectus vs. Shandong Publishing Media | Jiangsu Bioperfectus vs. Luyin Investment Group |
| China Publishing vs. Wuhan Yangtze Communication | China Publishing vs. Hubei Xingfa Chemicals | China Publishing vs. Lootom Telcovideo Network | China Publishing vs. Do Fluoride Chemicals 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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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