Correlation Between Shenzhen Jinxinnong and Zhengzhou Coal
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By analyzing existing cross correlation between Shenzhen Jinxinnong Feed and Zhengzhou Coal Mining, you can compare the effects of market volatilities on Shenzhen Jinxinnong and Zhengzhou Coal 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 Shenzhen Jinxinnong with a short position of Zhengzhou Coal. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Jinxinnong and Zhengzhou Coal.
Diversification Opportunities for Shenzhen Jinxinnong and Zhengzhou Coal
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Shenzhen and Zhengzhou is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Jinxinnong Feed and Zhengzhou Coal Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhengzhou Coal Mining and Shenzhen Jinxinnong 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 Shenzhen Jinxinnong Feed are associated (or correlated) with Zhengzhou Coal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhengzhou Coal Mining has no effect on the direction of Shenzhen Jinxinnong i.e., Shenzhen Jinxinnong and Zhengzhou Coal go up and down completely randomly.
Pair Corralation between Shenzhen Jinxinnong and Zhengzhou Coal
Assuming the 90 days trading horizon Shenzhen Jinxinnong is expected to generate 1.43 times less return on investment than Zhengzhou Coal. In addition to that, Shenzhen Jinxinnong is 1.11 times more volatile than Zhengzhou Coal Mining. It trades about 0.04 of its total potential returns per unit of risk. Zhengzhou Coal Mining is currently generating about 0.07 per unit of volatility. If you would invest 2,260 in Zhengzhou Coal Mining on September 13, 2025 and sell it today you would earn a total of 195.00 from holding Zhengzhou Coal Mining or generate 8.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen Jinxinnong Feed vs. Zhengzhou Coal Mining
Performance |
| Timeline |
| Shenzhen Jinxinnong Feed |
| Zhengzhou Coal Mining |
Shenzhen Jinxinnong and Zhengzhou Coal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Jinxinnong and Zhengzhou Coal
The main advantage of trading using opposite Shenzhen Jinxinnong and Zhengzhou Coal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Jinxinnong position performs unexpectedly, Zhengzhou Coal 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 Zhengzhou Coal will offset losses from the drop in Zhengzhou Coal's long position.| Shenzhen Jinxinnong vs. Hubei Tech Semiconductors | Shenzhen Jinxinnong vs. Peoples Insurance of | Shenzhen Jinxinnong vs. Huatian Hotel Group | Shenzhen Jinxinnong vs. BTG Hotels Group |
| Zhengzhou Coal vs. Shenzhen Jinxinnong Feed | Zhengzhou Coal vs. Kweichow Moutai Co | Zhengzhou Coal vs. G bits Network Technology | Zhengzhou Coal vs. Contemporary Amperex Technology |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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