Correlation Between JiShi Media and BOE Technology
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By analyzing existing cross correlation between JiShi Media Co and BOE Technology Group, you can compare the effects of market volatilities on JiShi Media and BOE Technology 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 JiShi Media with a short position of BOE Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of JiShi Media and BOE Technology.
Diversification Opportunities for JiShi Media and BOE Technology
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between JiShi and BOE is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding JiShi Media Co and BOE Technology Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BOE Technology Group and JiShi Media 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 JiShi Media Co are associated (or correlated) with BOE Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BOE Technology Group has no effect on the direction of JiShi Media i.e., JiShi Media and BOE Technology go up and down completely randomly.
Pair Corralation between JiShi Media and BOE Technology
Assuming the 90 days trading horizon JiShi Media Co is expected to generate 5.29 times more return on investment than BOE Technology. However, JiShi Media is 5.29 times more volatile than BOE Technology Group. It trades about 0.08 of its potential returns per unit of risk. BOE Technology Group is currently generating about 0.2 per unit of risk. If you would invest 175.00 in JiShi Media Co on September 27, 2024 and sell it today you would earn a total of 11.00 from holding JiShi Media Co or generate 6.29% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
JiShi Media Co vs. BOE Technology Group
Performance |
Timeline |
JiShi Media |
BOE Technology Group |
JiShi Media and BOE Technology Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with JiShi Media and BOE Technology
The main advantage of trading using opposite JiShi Media and BOE Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JiShi Media position performs unexpectedly, BOE Technology 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 BOE Technology will offset losses from the drop in BOE Technology's long position.JiShi Media vs. Ping An Insurance | JiShi Media vs. Kingclean Electric Co | JiShi Media vs. Peoples Insurance of | JiShi Media vs. Shaanxi Meineng Clean |
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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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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