Correlation Between Xinjiang Communications and Mobile Infrastructure
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By analyzing existing cross correlation between Xinjiang Communications Construction and Mobile Infrastructure, you can compare the effects of market volatilities on Xinjiang Communications and Mobile Infrastructure 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 Xinjiang Communications with a short position of Mobile Infrastructure. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xinjiang Communications and Mobile Infrastructure.
Diversification Opportunities for Xinjiang Communications and Mobile Infrastructure
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Xinjiang and Mobile is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Xinjiang Communications Constr and Mobile Infrastructure in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mobile Infrastructure and Xinjiang Communications 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 Xinjiang Communications Construction are associated (or correlated) with Mobile Infrastructure. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mobile Infrastructure has no effect on the direction of Xinjiang Communications i.e., Xinjiang Communications and Mobile Infrastructure go up and down completely randomly.
Pair Corralation between Xinjiang Communications and Mobile Infrastructure
Assuming the 90 days trading horizon Xinjiang Communications Construction is expected to generate 1.09 times more return on investment than Mobile Infrastructure. However, Xinjiang Communications is 1.09 times more volatile than Mobile Infrastructure. It trades about 0.17 of its potential returns per unit of risk. Mobile Infrastructure is currently generating about -0.01 per unit of risk. If you would invest 1,243 in Xinjiang Communications Construction on August 6, 2025 and sell it today you would earn a total of 603.00 from holding Xinjiang Communications Construction or generate 48.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 92.06% |
| Values | Daily Returns |
Xinjiang Communications Constr vs. Mobile Infrastructure
Performance |
| Timeline |
| Xinjiang Communications |
| Mobile Infrastructure |
Xinjiang Communications and Mobile Infrastructure Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xinjiang Communications and Mobile Infrastructure
The main advantage of trading using opposite Xinjiang Communications and Mobile Infrastructure positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xinjiang Communications position performs unexpectedly, Mobile Infrastructure 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 Mobile Infrastructure will offset losses from the drop in Mobile Infrastructure's long position.| Xinjiang Communications vs. BYD Co Ltd | Xinjiang Communications vs. China Mobile Limited | Xinjiang Communications vs. Agricultural Bank of | Xinjiang Communications vs. Industrial and Commercial |
| Mobile Infrastructure vs. AMREP | Mobile Infrastructure vs. Altisource Portfolio Solutions | Mobile Infrastructure vs. Comstock Holding Companies | Mobile Infrastructure vs. Granite Point Mortgage |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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