Correlation Between Zijin Mining and BRIXMOR
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By analyzing existing cross correlation between Zijin Mining Group and BRIXMOR OPERATING PARTNERSHIP, you can compare the effects of market volatilities on Zijin Mining and BRIXMOR 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 Zijin Mining with a short position of BRIXMOR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zijin Mining and BRIXMOR.
Diversification Opportunities for Zijin Mining and BRIXMOR
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Zijin and BRIXMOR is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Zijin Mining Group and BRIXMOR OPERATING PARTNERSHIP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BRIXMOR OPERATING and Zijin Mining 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 Zijin Mining Group are associated (or correlated) with BRIXMOR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BRIXMOR OPERATING has no effect on the direction of Zijin Mining i.e., Zijin Mining and BRIXMOR go up and down completely randomly.
Pair Corralation between Zijin Mining and BRIXMOR
Assuming the 90 days horizon Zijin Mining Group is expected to generate 4.8 times more return on investment than BRIXMOR. However, Zijin Mining is 4.8 times more volatile than BRIXMOR OPERATING PARTNERSHIP. It trades about 0.0 of its potential returns per unit of risk. BRIXMOR OPERATING PARTNERSHIP is currently generating about -0.14 per unit of risk. If you would invest 199.00 in Zijin Mining Group on September 4, 2024 and sell it today you would lose (8.00) from holding Zijin Mining Group or give up 4.02% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 96.83% |
| Values | Daily Returns |
Zijin Mining Group vs. BRIXMOR OPERATING PARTNERSHIP
Performance |
| Timeline |
| Zijin Mining Group |
| BRIXMOR OPERATING |
Zijin Mining and BRIXMOR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zijin Mining and BRIXMOR
The main advantage of trading using opposite Zijin Mining and BRIXMOR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zijin Mining position performs unexpectedly, BRIXMOR 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 BRIXMOR will offset losses from the drop in BRIXMOR's long position.| Zijin Mining vs. Torex Gold Resources | Zijin Mining vs. Wesdome Gold Mines | Zijin Mining vs. Northern Star Resources | Zijin Mining vs. Regis Resources |
| BRIXMOR vs. Meiwu Technology Co | BRIXMOR vs. Grocery Outlet Holding | BRIXMOR vs. Zijin Mining Group | BRIXMOR vs. Coupang LLC |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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