Correlation Between Jiajia Food and Easyhome New
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By analyzing existing cross correlation between Jiajia Food Group and Easyhome New Retail, you can compare the effects of market volatilities on Jiajia Food and Easyhome New 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 Jiajia Food with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiajia Food and Easyhome New.
Diversification Opportunities for Jiajia Food and Easyhome New
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jiajia and Easyhome is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Jiajia Food Group and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Jiajia Food 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 Jiajia Food Group are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Jiajia Food i.e., Jiajia Food and Easyhome New go up and down completely randomly.
Pair Corralation between Jiajia Food and Easyhome New
Assuming the 90 days trading horizon Jiajia Food Group is expected to generate 0.54 times more return on investment than Easyhome New. However, Jiajia Food Group is 1.86 times less risky than Easyhome New. It trades about -0.04 of its potential returns per unit of risk. Easyhome New Retail is currently generating about -0.09 per unit of risk. If you would invest 484.00 in Jiajia Food Group on November 3, 2024 and sell it today you would lose (11.00) from holding Jiajia Food Group or give up 2.27% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiajia Food Group vs. Easyhome New Retail
Performance |
| Timeline |
| Jiajia Food Group |
| Easyhome New Retail |
Jiajia Food and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiajia Food and Easyhome New
The main advantage of trading using opposite Jiajia Food and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiajia Food position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Jiajia Food vs. Shanghai Action Education | Jiajia Food vs. Qtone Education Group | Jiajia Food vs. Jiangsu Phoenix Publishing | Jiajia Food vs. Nanjing Putian Telecommunications |
| Easyhome New vs. Chinese Universe Publishing | Easyhome New vs. COL Digital Publishing | Easyhome New vs. Wintao Communications Co | Easyhome New vs. Bank of Communications |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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