Correlation Between Lander Sports and Jahen Household
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By analyzing existing cross correlation between Lander Sports Development and Jahen Household Products, you can compare the effects of market volatilities on Lander Sports and Jahen Household 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 Lander Sports with a short position of Jahen Household. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and Jahen Household.
Diversification Opportunities for Lander Sports and Jahen Household
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Lander and Jahen is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and Jahen Household Products in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jahen Household Products and Lander Sports 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 Lander Sports Development are associated (or correlated) with Jahen Household. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jahen Household Products has no effect on the direction of Lander Sports i.e., Lander Sports and Jahen Household go up and down completely randomly.
Pair Corralation between Lander Sports and Jahen Household
Assuming the 90 days trading horizon Lander Sports Development is expected to generate 1.09 times more return on investment than Jahen Household. However, Lander Sports is 1.09 times more volatile than Jahen Household Products. It trades about 0.08 of its potential returns per unit of risk. Jahen Household Products is currently generating about 0.07 per unit of risk. If you would invest 243.00 in Lander Sports Development on November 3, 2024 and sell it today you would earn a total of 79.00 from holding Lander Sports Development or generate 32.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lander Sports Development vs. Jahen Household Products
Performance |
| Timeline |
| Lander Sports Development |
| Jahen Household Products |
Lander Sports and Jahen Household Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lander Sports and Jahen Household
The main advantage of trading using opposite Lander Sports and Jahen Household positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, Jahen Household 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 Jahen Household will offset losses from the drop in Jahen Household's long position.| Lander Sports vs. Ningbo Fujia Industrial | Lander Sports vs. Youyou Foods Co | Lander Sports vs. Suzhou Weizhixiang Food | Lander Sports vs. Hengli Industrial Development |
| Jahen Household vs. Offcn Education Technology | Jahen Household vs. Hengkang Medical Group | Jahen Household vs. Qingdao Haier Biomedical | Jahen Household vs. Qtone Education Group |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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