Correlation Between Changsha Jingjia and Broadcom
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By analyzing existing cross correlation between Changsha Jingjia Microelectronics and Broadcom, you can compare the effects of market volatilities on Changsha Jingjia and Broadcom 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 Changsha Jingjia with a short position of Broadcom. Check out your portfolio center. Please also check ongoing floating volatility patterns of Changsha Jingjia and Broadcom.
Diversification Opportunities for Changsha Jingjia and Broadcom
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Changsha and Broadcom is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Changsha Jingjia Microelectron and Broadcom in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Broadcom and Changsha Jingjia 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 Changsha Jingjia Microelectronics are associated (or correlated) with Broadcom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Broadcom has no effect on the direction of Changsha Jingjia i.e., Changsha Jingjia and Broadcom go up and down completely randomly.
Pair Corralation between Changsha Jingjia and Broadcom
Assuming the 90 days trading horizon Changsha Jingjia Microelectronics is expected to under-perform the Broadcom. In addition to that, Changsha Jingjia is 1.05 times more volatile than Broadcom. It trades about -0.08 of its total potential returns per unit of risk. Broadcom is currently generating about 0.09 per unit of volatility. If you would invest 30,856 in Broadcom on August 13, 2025 and sell it today you would earn a total of 4,340 from holding Broadcom or generate 14.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 92.19% |
| Values | Daily Returns |
Changsha Jingjia Microelectron vs. Broadcom
Performance |
| Timeline |
| Changsha Jingjia Mic |
| Broadcom |
Changsha Jingjia and Broadcom Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Changsha Jingjia and Broadcom
The main advantage of trading using opposite Changsha Jingjia and Broadcom positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Changsha Jingjia position performs unexpectedly, Broadcom 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 Broadcom will offset losses from the drop in Broadcom's long position.| Changsha Jingjia vs. NBTM New Materials | Changsha Jingjia vs. Shengtak New Material | Changsha Jingjia vs. Kangxin New Materials | Changsha Jingjia vs. Advanced Technology Materials |
| Broadcom vs. Taiwan Semiconductor Manufacturing | Broadcom vs. Meta Platforms | Broadcom vs. Semtech | Broadcom vs. ASML Holding NV |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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