Correlation Between Jiajia Food and Poly Real
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By analyzing existing cross correlation between Jiajia Food Group and Poly Real Estate, you can compare the effects of market volatilities on Jiajia Food and Poly Real 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 Poly Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiajia Food and Poly Real.
Diversification Opportunities for Jiajia Food and Poly Real
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jiajia and Poly is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding Jiajia Food Group and Poly Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Poly Real Estate 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 Poly Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poly Real Estate has no effect on the direction of Jiajia Food i.e., Jiajia Food and Poly Real go up and down completely randomly.
Pair Corralation between Jiajia Food and Poly Real
Assuming the 90 days trading horizon Jiajia Food Group is expected to generate 2.33 times more return on investment than Poly Real. However, Jiajia Food is 2.33 times more volatile than Poly Real Estate. It trades about 0.26 of its potential returns per unit of risk. Poly Real Estate is currently generating about -0.12 per unit of risk. If you would invest 391.00 in Jiajia Food Group on September 4, 2024 and sell it today you would earn a total of 101.00 from holding Jiajia Food Group or generate 25.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiajia Food Group vs. Poly Real Estate
Performance |
| Timeline |
| Jiajia Food Group |
| Poly Real Estate |
Jiajia Food and Poly Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiajia Food and Poly Real
The main advantage of trading using opposite Jiajia Food and Poly Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiajia Food position performs unexpectedly, Poly Real 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 Poly Real will offset losses from the drop in Poly Real's long position.| Jiajia Food vs. Poly Real Estate | Jiajia Food vs. China Vanke Co | Jiajia Food vs. China Merchants Shekou | Jiajia Food vs. Huafa Industrial Co |
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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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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