Correlation Between JCHX Mining and Shenzhen Shenbao
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By analyzing existing cross correlation between JCHX Mining Management and Shenzhen Shenbao Industrial, you can compare the effects of market volatilities on JCHX Mining and Shenzhen Shenbao 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 JCHX Mining with a short position of Shenzhen Shenbao. Check out your portfolio center. Please also check ongoing floating volatility patterns of JCHX Mining and Shenzhen Shenbao.
Diversification Opportunities for JCHX Mining and Shenzhen Shenbao
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JCHX and Shenzhen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JCHX Mining Management and Shenzhen Shenbao Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Shenbao Ind and JCHX 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 JCHX Mining Management are associated (or correlated) with Shenzhen Shenbao. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Shenbao Ind has no effect on the direction of JCHX Mining i.e., JCHX Mining and Shenzhen Shenbao go up and down completely randomly.
Pair Corralation between JCHX Mining and Shenzhen Shenbao
Assuming the 90 days trading horizon JCHX Mining Management is expected to under-perform the Shenzhen Shenbao. In addition to that, JCHX Mining is 1.33 times more volatile than Shenzhen Shenbao Industrial. It trades about -0.06 of its total potential returns per unit of risk. Shenzhen Shenbao Industrial is currently generating about 0.0 per unit of volatility. If you would invest 633.00 in Shenzhen Shenbao Industrial on October 11, 2024 and sell it today you would lose (6.00) from holding Shenzhen Shenbao Industrial or give up 0.95% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
JCHX Mining Management vs. Shenzhen Shenbao Industrial
Performance |
Timeline |
JCHX Mining Management |
Shenzhen Shenbao Ind |
JCHX Mining and Shenzhen Shenbao Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with JCHX Mining and Shenzhen Shenbao
The main advantage of trading using opposite JCHX Mining and Shenzhen Shenbao positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JCHX Mining position performs unexpectedly, Shenzhen Shenbao 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 Shenzhen Shenbao will offset losses from the drop in Shenzhen Shenbao's long position.JCHX Mining vs. Aba Chemicals Corp | JCHX Mining vs. Henan Shuanghui Investment | JCHX Mining vs. BTG Hotels Group | JCHX Mining vs. Ningxia Younglight Chemicals |
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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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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