Correlation Between JCHX Mining and Shandong Publishing
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By analyzing existing cross correlation between JCHX Mining Management and Shandong Publishing Media, you can compare the effects of market volatilities on JCHX Mining and Shandong Publishing 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 JCHX Mining with a short position of Shandong Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of JCHX Mining and Shandong Publishing.
Diversification Opportunities for JCHX Mining and Shandong Publishing
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between JCHX and Shandong is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding JCHX Mining Management and Shandong Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shandong Publishing Media and JCHX Mining 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 JCHX Mining Management are associated (or correlated) with Shandong Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shandong Publishing Media has no effect on the direction of JCHX Mining i.e., JCHX Mining and Shandong Publishing go up and down completely randomly.
Pair Corralation between JCHX Mining and Shandong Publishing
Assuming the 90 days trading horizon JCHX Mining Management is expected to under-perform the Shandong Publishing. In addition to that, JCHX Mining is 1.45 times more volatile than Shandong Publishing Media. It trades about -0.01 of its total potential returns per unit of risk. Shandong Publishing Media is currently generating about 0.09 per unit of volatility. If you would invest 777.00 in Shandong Publishing Media on September 10, 2025 and sell it today you would earn a total of 56.00 from holding Shandong Publishing Media or generate 7.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JCHX Mining Management vs. Shandong Publishing Media
Performance |
| Timeline |
| JCHX Mining Management |
| Shandong Publishing Media |
JCHX Mining and Shandong Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JCHX Mining and Shandong Publishing
The main advantage of trading using opposite JCHX Mining and Shandong Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JCHX Mining position performs unexpectedly, Shandong Publishing 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 Shandong Publishing will offset losses from the drop in Shandong Publishing's long position.| JCHX Mining vs. Zijin Mining Group | JCHX Mining vs. Wanhua Chemical Group | JCHX Mining vs. Baoshan Iron Steel | JCHX Mining vs. Inner Mongolia BaoTou |
| Shandong Publishing vs. Agricultural Bank of | Shandong Publishing vs. Industrial and Commercial | Shandong Publishing vs. Bank of China | Shandong Publishing vs. Postal Savings Bank |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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