Correlation Between ROPEOK Technology and JCHX Mining
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By analyzing existing cross correlation between ROPEOK Technology Group and JCHX Mining Management, you can compare the effects of market volatilities on ROPEOK Technology and JCHX Mining 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 ROPEOK Technology with a short position of JCHX Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of ROPEOK Technology and JCHX Mining.
Diversification Opportunities for ROPEOK Technology and JCHX Mining
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between ROPEOK and JCHX is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding ROPEOK Technology Group and JCHX Mining Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JCHX Mining Management and ROPEOK 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 ROPEOK Technology Group are associated (or correlated) with JCHX Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JCHX Mining Management has no effect on the direction of ROPEOK Technology i.e., ROPEOK Technology and JCHX Mining go up and down completely randomly.
Pair Corralation between ROPEOK Technology and JCHX Mining
Assuming the 90 days trading horizon ROPEOK Technology Group is expected to generate 1.25 times more return on investment than JCHX Mining. However, ROPEOK Technology is 1.25 times more volatile than JCHX Mining Management. It trades about 0.17 of its potential returns per unit of risk. JCHX Mining Management is currently generating about -0.03 per unit of risk. If you would invest 855.00 in ROPEOK Technology Group on September 1, 2024 and sell it today you would earn a total of 96.00 from holding ROPEOK Technology Group or generate 11.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
ROPEOK Technology Group vs. JCHX Mining Management
Performance |
| Timeline |
| ROPEOK Technology |
| JCHX Mining Management |
ROPEOK Technology and JCHX Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ROPEOK Technology and JCHX Mining
The main advantage of trading using opposite ROPEOK Technology and JCHX Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ROPEOK Technology position performs unexpectedly, JCHX Mining 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 JCHX Mining will offset losses from the drop in JCHX Mining's long position.| ROPEOK Technology vs. Longmaster Information Tech | ROPEOK Technology vs. Emdoor Information Co | ROPEOK Technology vs. AVCON Information Tech | ROPEOK Technology vs. Nancal Energy Saving Tech |
| JCHX Mining vs. Zijin Mining Group | JCHX Mining vs. Wanhua Chemical Group | JCHX Mining vs. Baoshan Iron Steel | JCHX Mining vs. Shandong Gold Mining |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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