Correlation Between Duzhe Publishing and Jiangsu Phoenix
Specify exactly 2 symbols:
By analyzing existing cross correlation between Duzhe Publishing Media and Jiangsu Phoenix Publishing, you can compare the effects of market volatilities on Duzhe Publishing and Jiangsu Phoenix 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 Duzhe Publishing with a short position of Jiangsu Phoenix. Check out your portfolio center. Please also check ongoing floating volatility patterns of Duzhe Publishing and Jiangsu Phoenix.
Diversification Opportunities for Duzhe Publishing and Jiangsu Phoenix
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Duzhe and Jiangsu is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Duzhe Publishing Media and Jiangsu Phoenix Publishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Phoenix Publ and Duzhe Publishing 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 Duzhe Publishing Media are associated (or correlated) with Jiangsu Phoenix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Phoenix Publ has no effect on the direction of Duzhe Publishing i.e., Duzhe Publishing and Jiangsu Phoenix go up and down completely randomly.
Pair Corralation between Duzhe Publishing and Jiangsu Phoenix
Assuming the 90 days trading horizon Duzhe Publishing Media is expected to generate 2.33 times more return on investment than Jiangsu Phoenix. However, Duzhe Publishing is 2.33 times more volatile than Jiangsu Phoenix Publishing. It trades about 0.09 of its potential returns per unit of risk. Jiangsu Phoenix Publishing is currently generating about -0.03 per unit of risk. If you would invest 671.00 in Duzhe Publishing Media on September 12, 2025 and sell it today you would earn a total of 69.00 from holding Duzhe Publishing Media or generate 10.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Duzhe Publishing Media vs. Jiangsu Phoenix Publishing
Performance |
| Timeline |
| Duzhe Publishing Media |
| Jiangsu Phoenix Publ |
Duzhe Publishing and Jiangsu Phoenix Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Duzhe Publishing and Jiangsu Phoenix
The main advantage of trading using opposite Duzhe Publishing and Jiangsu Phoenix positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Duzhe Publishing position performs unexpectedly, Jiangsu Phoenix 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 Jiangsu Phoenix will offset losses from the drop in Jiangsu Phoenix's long position.| Duzhe Publishing vs. Ming Yang Smart | Duzhe Publishing vs. 159681 | Duzhe Publishing vs. 159005 | Duzhe Publishing vs. Loctek Ergonomic Technology |
| Jiangsu Phoenix vs. Telink Semiconductor Co | Jiangsu Phoenix vs. Hengerda New Materials | Jiangsu Phoenix vs. Guangzhou Tinci Materials | Jiangsu Phoenix vs. Fuda Alloy Materials |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings |