Correlation Between Iat Automobile and Jiugui Liquor
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By analyzing existing cross correlation between Iat Automobile Technology and Jiugui Liquor Co, you can compare the effects of market volatilities on Iat Automobile and Jiugui Liquor 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 Iat Automobile with a short position of Jiugui Liquor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and Jiugui Liquor.
Diversification Opportunities for Iat Automobile and Jiugui Liquor
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Iat and Jiugui is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile Technology and Jiugui Liquor Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiugui Liquor and Iat Automobile 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 Iat Automobile Technology are associated (or correlated) with Jiugui Liquor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiugui Liquor has no effect on the direction of Iat Automobile i.e., Iat Automobile and Jiugui Liquor go up and down completely randomly.
Pair Corralation between Iat Automobile and Jiugui Liquor
Assuming the 90 days trading horizon Iat Automobile Technology is expected to under-perform the Jiugui Liquor. In addition to that, Iat Automobile is 1.53 times more volatile than Jiugui Liquor Co. It trades about -0.13 of its total potential returns per unit of risk. Jiugui Liquor Co is currently generating about 0.0 per unit of volatility. If you would invest 5,665 in Jiugui Liquor Co on September 25, 2024 and sell it today you would lose (35.00) from holding Jiugui Liquor Co or give up 0.62% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Iat Automobile Technology vs. Jiugui Liquor Co
Performance |
Timeline |
Iat Automobile Technology |
Jiugui Liquor |
Iat Automobile and Jiugui Liquor Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Iat Automobile and Jiugui Liquor
The main advantage of trading using opposite Iat Automobile and Jiugui Liquor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile position performs unexpectedly, Jiugui Liquor 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 Jiugui Liquor will offset losses from the drop in Jiugui Liquor's long position.Iat Automobile vs. Hainan Airlines Co | Iat Automobile vs. Fuzhou Rockchip Electronics | Iat Automobile vs. Dongnan Electronics Co | Iat Automobile vs. Suzhou Xingye Material |
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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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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