Correlation Between Zhangjiagang Freetrade and Ye Chiu
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By analyzing existing cross correlation between Zhangjiagang Freetrade Science and Ye Chiu Metal, you can compare the effects of market volatilities on Zhangjiagang Freetrade and Ye Chiu 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 Zhangjiagang Freetrade with a short position of Ye Chiu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zhangjiagang Freetrade and Ye Chiu.
Diversification Opportunities for Zhangjiagang Freetrade and Ye Chiu
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Zhangjiagang and 601388 is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Zhangjiagang Freetrade Science and Ye Chiu Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ye Chiu Metal and Zhangjiagang Freetrade 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 Zhangjiagang Freetrade Science are associated (or correlated) with Ye Chiu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ye Chiu Metal has no effect on the direction of Zhangjiagang Freetrade i.e., Zhangjiagang Freetrade and Ye Chiu go up and down completely randomly.
Pair Corralation between Zhangjiagang Freetrade and Ye Chiu
Assuming the 90 days trading horizon Zhangjiagang Freetrade is expected to generate 36.31 times less return on investment than Ye Chiu. In addition to that, Zhangjiagang Freetrade is 1.06 times more volatile than Ye Chiu Metal. It trades about 0.0 of its total potential returns per unit of risk. Ye Chiu Metal is currently generating about 0.09 per unit of volatility. If you would invest 266.00 in Ye Chiu Metal on September 24, 2024 and sell it today you would earn a total of 11.00 from holding Ye Chiu Metal or generate 4.14% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Zhangjiagang Freetrade Science vs. Ye Chiu Metal
Performance |
Timeline |
Zhangjiagang Freetrade |
Ye Chiu Metal |
Zhangjiagang Freetrade and Ye Chiu Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Zhangjiagang Freetrade and Ye Chiu
The main advantage of trading using opposite Zhangjiagang Freetrade and Ye Chiu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zhangjiagang Freetrade position performs unexpectedly, Ye Chiu 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 Ye Chiu will offset losses from the drop in Ye Chiu's long position.Zhangjiagang Freetrade vs. Dook Media Group | Zhangjiagang Freetrade vs. Yingde Greatchem Chemicals | Zhangjiagang Freetrade vs. Lander Sports Development | Zhangjiagang Freetrade vs. Dymatic Chemicals |
Ye Chiu vs. Guangdong Jingyi Metal | Ye Chiu vs. Heilongjiang Publishing Media | Ye Chiu vs. China Publishing Media | Ye Chiu vs. Zhangjiagang Freetrade Science |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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