Correlation Between Jiajia Food and Dhc Software
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By analyzing existing cross correlation between Jiajia Food Group and Dhc Software Co, you can compare the effects of market volatilities on Jiajia Food and Dhc Software 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 Dhc Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiajia Food and Dhc Software.
Diversification Opportunities for Jiajia Food and Dhc Software
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jiajia and Dhc is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Jiajia Food Group and Dhc Software Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dhc Software 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 Dhc Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dhc Software has no effect on the direction of Jiajia Food i.e., Jiajia Food and Dhc Software go up and down completely randomly.
Pair Corralation between Jiajia Food and Dhc Software
Assuming the 90 days trading horizon Jiajia Food is expected to generate 2.53 times less return on investment than Dhc Software. In addition to that, Jiajia Food is 1.07 times more volatile than Dhc Software Co. It trades about 0.01 of its total potential returns per unit of risk. Dhc Software Co is currently generating about 0.04 per unit of volatility. If you would invest 582.00 in Dhc Software Co on September 21, 2024 and sell it today you would earn a total of 210.00 from holding Dhc Software Co or generate 36.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiajia Food Group vs. Dhc Software Co
Performance |
| Timeline |
| Jiajia Food Group |
| Dhc Software |
Jiajia Food and Dhc Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiajia Food and Dhc Software
The main advantage of trading using opposite Jiajia Food and Dhc Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiajia Food position performs unexpectedly, Dhc Software 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 Dhc Software will offset losses from the drop in Dhc Software's long position.| Jiajia Food vs. Nanjing Putian Telecommunications | Jiajia Food vs. Tianjin Realty Development | Jiajia Food vs. Kangyue Technology Co | Jiajia Food vs. Shenzhen Hifuture Electric |
| Dhc Software vs. Caihong Display Devices | Dhc Software vs. Jiajia Food Group | Dhc Software vs. Unisplendour Corp | Dhc Software vs. Bus Online Co |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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