Correlation Between Jiangxi Ganfeng and Hunan Kaimeite
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By analyzing existing cross correlation between Jiangxi Ganfeng Lithium and Hunan Kaimeite Gases, you can compare the effects of market volatilities on Jiangxi Ganfeng and Hunan Kaimeite 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 Jiangxi Ganfeng with a short position of Hunan Kaimeite. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangxi Ganfeng and Hunan Kaimeite.
Diversification Opportunities for Jiangxi Ganfeng and Hunan Kaimeite
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jiangxi and Hunan is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Jiangxi Ganfeng Lithium and Hunan Kaimeite Gases in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hunan Kaimeite Gases and Jiangxi Ganfeng 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 Jiangxi Ganfeng Lithium are associated (or correlated) with Hunan Kaimeite. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hunan Kaimeite Gases has no effect on the direction of Jiangxi Ganfeng i.e., Jiangxi Ganfeng and Hunan Kaimeite go up and down completely randomly.
Pair Corralation between Jiangxi Ganfeng and Hunan Kaimeite
Assuming the 90 days trading horizon Jiangxi Ganfeng Lithium is expected to generate 0.7 times more return on investment than Hunan Kaimeite. However, Jiangxi Ganfeng Lithium is 1.44 times less risky than Hunan Kaimeite. It trades about 0.28 of its potential returns per unit of risk. Hunan Kaimeite Gases is currently generating about 0.15 per unit of risk. If you would invest 3,893 in Jiangxi Ganfeng Lithium on August 13, 2025 and sell it today you would earn a total of 3,043 from holding Jiangxi Ganfeng Lithium or generate 78.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangxi Ganfeng Lithium vs. Hunan Kaimeite Gases
Performance |
| Timeline |
| Jiangxi Ganfeng Lithium |
| Hunan Kaimeite Gases |
Jiangxi Ganfeng and Hunan Kaimeite Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangxi Ganfeng and Hunan Kaimeite
The main advantage of trading using opposite Jiangxi Ganfeng and Hunan Kaimeite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangxi Ganfeng position performs unexpectedly, Hunan Kaimeite 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 Hunan Kaimeite will offset losses from the drop in Hunan Kaimeite's long position.| Jiangxi Ganfeng vs. By health | Jiangxi Ganfeng vs. Yunnan Jianzhijia Health Chain | Jiangxi Ganfeng vs. Talkweb Information System | Jiangxi Ganfeng vs. Qiming Information Technology |
| Hunan Kaimeite vs. Bomin Electronics Co | Hunan Kaimeite vs. Guobo Electronics Co | Hunan Kaimeite vs. Guangdong Ellington Electronics | Hunan Kaimeite vs. Hangzhou Prevail Optoelectronic |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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