Correlation Between China Union and Jiangxi Sanxin
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By analyzing existing cross correlation between China Union Holdings and Jiangxi Sanxin Medtec, you can compare the effects of market volatilities on China Union and Jiangxi Sanxin 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 China Union with a short position of Jiangxi Sanxin. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Union and Jiangxi Sanxin.
Diversification Opportunities for China Union and Jiangxi Sanxin
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between China and Jiangxi is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding China Union Holdings and Jiangxi Sanxin Medtec in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangxi Sanxin Medtec and China Union 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 China Union Holdings are associated (or correlated) with Jiangxi Sanxin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangxi Sanxin Medtec has no effect on the direction of China Union i.e., China Union and Jiangxi Sanxin go up and down completely randomly.
Pair Corralation between China Union and Jiangxi Sanxin
Assuming the 90 days trading horizon China Union is expected to generate 1.02 times less return on investment than Jiangxi Sanxin. In addition to that, China Union is 1.07 times more volatile than Jiangxi Sanxin Medtec. It trades about 0.06 of its total potential returns per unit of risk. Jiangxi Sanxin Medtec is currently generating about 0.07 per unit of volatility. If you would invest 837.00 in Jiangxi Sanxin Medtec on July 19, 2025 and sell it today you would earn a total of 79.00 from holding Jiangxi Sanxin Medtec or generate 9.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.31% |
| Values | Daily Returns |
China Union Holdings vs. Jiangxi Sanxin Medtec
Performance |
| Timeline |
| China Union Holdings |
| Jiangxi Sanxin Medtec |
China Union and Jiangxi Sanxin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Union and Jiangxi Sanxin
The main advantage of trading using opposite China Union and Jiangxi Sanxin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Union position performs unexpectedly, Jiangxi Sanxin 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 Jiangxi Sanxin will offset losses from the drop in Jiangxi Sanxin's long position.| China Union vs. Ming Yang Smart | China Union vs. 159681 | China Union vs. 159005 | China Union vs. Loctek Ergonomic Technology |
| Jiangxi Sanxin vs. Dhc Software Co | Jiangxi Sanxin vs. Miracll Chemicals Co | Jiangxi Sanxin vs. Zhejiang Kingland Pipeline | Jiangxi Sanxin vs. Shenzhen Noposion Agrochemicals |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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