Correlation Between Hongta Securities and Jiangxi Sanxin
Specify exactly 2 symbols:
By analyzing existing cross correlation between Hongta Securities Co and Jiangxi Sanxin Medtec, you can compare the effects of market volatilities on Hongta Securities and Jiangxi Sanxin 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 Hongta Securities with a short position of Jiangxi Sanxin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hongta Securities and Jiangxi Sanxin.
Diversification Opportunities for Hongta Securities and Jiangxi Sanxin
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Hongta and Jiangxi is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Hongta Securities Co and Jiangxi Sanxin Medtec in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangxi Sanxin Medtec and Hongta Securities 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 Hongta Securities Co are associated (or correlated) with Jiangxi Sanxin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangxi Sanxin Medtec has no effect on the direction of Hongta Securities i.e., Hongta Securities and Jiangxi Sanxin go up and down completely randomly.
Pair Corralation between Hongta Securities and Jiangxi Sanxin
Assuming the 90 days trading horizon Hongta Securities is expected to generate 4.12 times less return on investment than Jiangxi Sanxin. But when comparing it to its historical volatility, Hongta Securities Co is 1.76 times less risky than Jiangxi Sanxin. It trades about 0.03 of its potential returns per unit of risk. Jiangxi Sanxin Medtec is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 837.00 in Jiangxi Sanxin Medtec on July 19, 2025 and sell it today you would earn a total of 79.00 from holding Jiangxi Sanxin Medtec or generate 9.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.31% |
| Values | Daily Returns |
Hongta Securities Co vs. Jiangxi Sanxin Medtec
Performance |
| Timeline |
| Hongta Securities |
| Jiangxi Sanxin Medtec |
Hongta Securities and Jiangxi Sanxin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hongta Securities and Jiangxi Sanxin
The main advantage of trading using opposite Hongta Securities and Jiangxi Sanxin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hongta Securities position performs unexpectedly, Jiangxi Sanxin 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 Jiangxi Sanxin will offset losses from the drop in Jiangxi Sanxin's long position.| Hongta Securities vs. Wuhan Hvsen Biotechnology | Hongta Securities vs. Talkweb Information System | Hongta Securities vs. Sichuan Hebang Biotechnology | Hongta Securities vs. Zhongfu Information |
| Jiangxi Sanxin vs. Dhc Software Co | Jiangxi Sanxin vs. Miracll Chemicals Co | Jiangxi Sanxin vs. Zhejiang Kingland Pipeline | Jiangxi Sanxin vs. Shenzhen Noposion Agrochemicals |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Other Complementary Tools
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges |