Correlation Between Chenzhou Jingui and Caihong Display
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By analyzing existing cross correlation between Chenzhou Jingui Silver and Caihong Display Devices, you can compare the effects of market volatilities on Chenzhou Jingui and Caihong Display 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 Chenzhou Jingui with a short position of Caihong Display. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chenzhou Jingui and Caihong Display.
Diversification Opportunities for Chenzhou Jingui and Caihong Display
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Chenzhou and Caihong is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Chenzhou Jingui Silver and Caihong Display Devices in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Caihong Display Devices and Chenzhou Jingui 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 Chenzhou Jingui Silver are associated (or correlated) with Caihong Display. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Caihong Display Devices has no effect on the direction of Chenzhou Jingui i.e., Chenzhou Jingui and Caihong Display go up and down completely randomly.
Pair Corralation between Chenzhou Jingui and Caihong Display
Assuming the 90 days trading horizon Chenzhou Jingui Silver is expected to generate 2.09 times more return on investment than Caihong Display. However, Chenzhou Jingui is 2.09 times more volatile than Caihong Display Devices. It trades about 0.04 of its potential returns per unit of risk. Caihong Display Devices is currently generating about 0.05 per unit of risk. If you would invest 609.00 in Chenzhou Jingui Silver on September 10, 2025 and sell it today you would earn a total of 36.00 from holding Chenzhou Jingui Silver or generate 5.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Chenzhou Jingui Silver vs. Caihong Display Devices
Performance |
| Timeline |
| Chenzhou Jingui Silver |
| Caihong Display Devices |
Chenzhou Jingui and Caihong Display Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chenzhou Jingui and Caihong Display
The main advantage of trading using opposite Chenzhou Jingui and Caihong Display positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chenzhou Jingui position performs unexpectedly, Caihong Display 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 Caihong Display will offset losses from the drop in Caihong Display's long position.| Chenzhou Jingui vs. Fangda Special Steel | Chenzhou Jingui vs. China World Trade | Chenzhou Jingui vs. Glodon Software Co | Chenzhou Jingui vs. Sinocat Environmental Technology |
| Caihong Display vs. Ming Yang Smart | Caihong Display vs. 159681 | Caihong Display vs. 159005 | Caihong Display vs. Loctek Ergonomic 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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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