Correlation Between China Securities and Jahen Household
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By analyzing existing cross correlation between China Securities 800 and Jahen Household Products, you can compare the effects of market volatilities on China Securities 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 China Securities with a short position of Jahen Household. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Jahen Household.
Diversification Opportunities for China Securities and Jahen Household
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between China and Jahen is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 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 China 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 China Securities 800 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 China Securities i.e., China Securities and Jahen Household go up and down completely randomly.
Pair Corralation between China Securities and Jahen Household
Assuming the 90 days trading horizon China Securities 800 is expected to generate 0.38 times more return on investment than Jahen Household. However, China Securities 800 is 2.64 times less risky than Jahen Household. It trades about 0.01 of its potential returns per unit of risk. Jahen Household Products is currently generating about -0.02 per unit of risk. If you would invest 417,746 in China Securities 800 on August 29, 2024 and sell it today you would earn a total of 4,144 from holding China Securities 800 or generate 0.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Securities 800 vs. Jahen Household Products
Performance |
| Timeline |
China Securities and Jahen Household Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Jahen Household Products
Pair trading matchups for Jahen Household
Pair Trading with China Securities and Jahen Household
The main advantage of trading using opposite China Securities and Jahen Household positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities 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.| China Securities vs. Tibet Huayu Mining | China Securities vs. Keeson Technology Corp | China Securities vs. OBiO Technology Corp | China Securities vs. ROPEOK Technology Group |
| Jahen Household vs. Shandong Gold Mining | Jahen Household vs. Rongsheng Petrochemical Co | Jahen Household vs. Inner Mongolia BaoTou | Jahen Household vs. Jiangxi Ganfeng Lithium |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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