Correlation Between CIMC Vehicles and Jinyu Bio
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By analyzing existing cross correlation between CIMC Vehicles Co and Jinyu Bio Technology Co, you can compare the effects of market volatilities on CIMC Vehicles and Jinyu Bio 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 CIMC Vehicles with a short position of Jinyu Bio. Check out your portfolio center. Please also check ongoing floating volatility patterns of CIMC Vehicles and Jinyu Bio.
Diversification Opportunities for CIMC Vehicles and Jinyu Bio
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between CIMC and Jinyu is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding CIMC Vehicles Co and Jinyu Bio Technology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jinyu Bio Technology and CIMC Vehicles 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 CIMC Vehicles Co are associated (or correlated) with Jinyu Bio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jinyu Bio Technology has no effect on the direction of CIMC Vehicles i.e., CIMC Vehicles and Jinyu Bio go up and down completely randomly.
Pair Corralation between CIMC Vehicles and Jinyu Bio
Assuming the 90 days trading horizon CIMC Vehicles is expected to generate 12.53 times less return on investment than Jinyu Bio. But when comparing it to its historical volatility, CIMC Vehicles Co is 1.62 times less risky than Jinyu Bio. It trades about 0.06 of its potential returns per unit of risk. Jinyu Bio Technology Co is currently generating about 0.48 of returns per unit of risk over similar time horizon. If you would invest 1,050 in Jinyu Bio Technology Co on September 11, 2025 and sell it today you would earn a total of 386.00 from holding Jinyu Bio Technology Co or generate 36.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CIMC Vehicles Co vs. Jinyu Bio Technology Co
Performance |
| Timeline |
| CIMC Vehicles |
| Jinyu Bio Technology |
CIMC Vehicles and Jinyu Bio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CIMC Vehicles and Jinyu Bio
The main advantage of trading using opposite CIMC Vehicles and Jinyu Bio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CIMC Vehicles position performs unexpectedly, Jinyu Bio 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 Jinyu Bio will offset losses from the drop in Jinyu Bio's long position.| CIMC Vehicles vs. Zhejiang Zhengguang Industrial | CIMC Vehicles vs. Guangdong Jingyi Metal | CIMC Vehicles vs. Pengxin International Mining | CIMC Vehicles vs. Suzhou Industrial Park |
| Jinyu Bio vs. Kweichow Moutai Co | Jinyu Bio vs. Contemporary Amperex Technology | Jinyu Bio vs. Zhejiang CFMoto Power | Jinyu Bio vs. Anhui Gujing Distillery |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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