Correlation Between Walker Dunlop and Jiangsu Xinning
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By analyzing existing cross correlation between Walker Dunlop and Jiangsu Xinning Modern, you can compare the effects of market volatilities on Walker Dunlop and Jiangsu Xinning 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 Walker Dunlop with a short position of Jiangsu Xinning. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Jiangsu Xinning.
Diversification Opportunities for Walker Dunlop and Jiangsu Xinning
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Walker and Jiangsu is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Jiangsu Xinning Modern in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Xinning Modern and Walker Dunlop 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 Walker Dunlop are associated (or correlated) with Jiangsu Xinning. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Xinning Modern has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Jiangsu Xinning go up and down completely randomly.
Pair Corralation between Walker Dunlop and Jiangsu Xinning
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 33.01 times less return on investment than Jiangsu Xinning. But when comparing it to its historical volatility, Walker Dunlop is 2.93 times less risky than Jiangsu Xinning. It trades about 0.02 of its potential returns per unit of risk. Jiangsu Xinning Modern is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 202.00 in Jiangsu Xinning Modern on August 25, 2024 and sell it today you would earn a total of 171.00 from holding Jiangsu Xinning Modern or generate 84.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 90.77% |
| Values | Daily Returns |
Walker Dunlop vs. Jiangsu Xinning Modern
Performance |
| Timeline |
| Walker Dunlop |
| Jiangsu Xinning Modern |
Walker Dunlop and Jiangsu Xinning Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Jiangsu Xinning
The main advantage of trading using opposite Walker Dunlop and Jiangsu Xinning positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Jiangsu Xinning 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 Jiangsu Xinning will offset losses from the drop in Jiangsu Xinning's long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| Jiangsu Xinning vs. Sportsoul Co Ltd | Jiangsu Xinning vs. Chengdu Spaceon Electronics | Jiangsu Xinning vs. Shandong Longquan Pipeline | Jiangsu Xinning vs. Shanghai CEO Environmental |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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