Correlation Between Maple Peak and Jinhua Capital
Can any of the company-specific risk be diversified away by investing in both Maple Peak and Jinhua Capital at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Maple Peak and Jinhua Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Maple Peak Investments and Jinhua Capital, you can compare the effects of market volatilities on Maple Peak and Jinhua Capital 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 Maple Peak with a short position of Jinhua Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maple Peak and Jinhua Capital.
Diversification Opportunities for Maple Peak and Jinhua Capital
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Maple and Jinhua is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Maple Peak Investments and Jinhua Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jinhua Capital and Maple Peak 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 Maple Peak Investments are associated (or correlated) with Jinhua Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jinhua Capital has no effect on the direction of Maple Peak i.e., Maple Peak and Jinhua Capital go up and down completely randomly.
Pair Corralation between Maple Peak and Jinhua Capital
If you would invest 1.00 in Jinhua Capital on September 3, 2024 and sell it today you would lose (0.50) from holding Jinhua Capital or give up 50.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 97.62% |
| Values | Daily Returns |
Maple Peak Investments vs. Jinhua Capital
Performance |
| Timeline |
| Maple Peak Investments |
| Jinhua Capital |
Maple Peak and Jinhua Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maple Peak and Jinhua Capital
The main advantage of trading using opposite Maple Peak and Jinhua Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maple Peak position performs unexpectedly, Jinhua Capital 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 Jinhua Capital will offset losses from the drop in Jinhua Capital's long position.| Maple Peak vs. Brookfield Asset Management | Maple Peak vs. MAG Silver Corp | Maple Peak vs. NeXGold Mining Corp | Maple Peak vs. Doman Building Materials |
| Jinhua Capital vs. WELL Health Technologies | Jinhua Capital vs. Monument Mining Limited | Jinhua Capital vs. CVS HEALTH CDR | Jinhua Capital vs. UnitedHealth Group CDR |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges |