Correlation Between Markor International and Jilin Jlu
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By analyzing existing cross correlation between Markor International Home and Jilin Jlu Communication, you can compare the effects of market volatilities on Markor International and Jilin Jlu 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 Markor International with a short position of Jilin Jlu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Markor International and Jilin Jlu.
Diversification Opportunities for Markor International and Jilin Jlu
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Markor and Jilin is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Markor International Home and Jilin Jlu Communication in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jilin Jlu Communication and Markor International 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 Markor International Home are associated (or correlated) with Jilin Jlu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jilin Jlu Communication has no effect on the direction of Markor International i.e., Markor International and Jilin Jlu go up and down completely randomly.
Pair Corralation between Markor International and Jilin Jlu
Assuming the 90 days trading horizon Markor International Home is expected to under-perform the Jilin Jlu. In addition to that, Markor International is 1.64 times more volatile than Jilin Jlu Communication. It trades about -0.02 of its total potential returns per unit of risk. Jilin Jlu Communication is currently generating about -0.01 per unit of volatility. If you would invest 938.00 in Jilin Jlu Communication on November 21, 2024 and sell it today you would lose (32.00) from holding Jilin Jlu Communication or give up 3.41% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Markor International Home vs. Jilin Jlu Communication
Performance |
Timeline |
Markor International Home |
Jilin Jlu Communication |
Markor International and Jilin Jlu Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Markor International and Jilin Jlu
The main advantage of trading using opposite Markor International and Jilin Jlu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Markor International position performs unexpectedly, Jilin Jlu 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 Jilin Jlu will offset losses from the drop in Jilin Jlu's long position.Markor International vs. Western Mining Co | ||
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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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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