Correlation Between Yankershop Food and Jason Furniture
Specify exactly 2 symbols:
By analyzing existing cross correlation between Yankershop Food Co and Jason Furniture, you can compare the effects of market volatilities on Yankershop Food and Jason Furniture 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 Yankershop Food with a short position of Jason Furniture. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yankershop Food and Jason Furniture.
Diversification Opportunities for Yankershop Food and Jason Furniture
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Yankershop and Jason is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Yankershop Food Co and Jason Furniture in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jason Furniture and Yankershop 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 Yankershop Food Co are associated (or correlated) with Jason Furniture. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jason Furniture has no effect on the direction of Yankershop Food i.e., Yankershop Food and Jason Furniture go up and down completely randomly.
Pair Corralation between Yankershop Food and Jason Furniture
Assuming the 90 days trading horizon Yankershop Food Co is expected to under-perform the Jason Furniture. In addition to that, Yankershop Food is 1.37 times more volatile than Jason Furniture. It trades about -0.17 of its total potential returns per unit of risk. Jason Furniture is currently generating about -0.13 per unit of volatility. If you would invest 2,859 in Jason Furniture on October 25, 2024 and sell it today you would lose (141.00) from holding Jason Furniture or give up 4.93% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yankershop Food Co vs. Jason Furniture
Performance |
| Timeline |
| Yankershop Food |
| Jason Furniture |
Yankershop Food and Jason Furniture Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yankershop Food and Jason Furniture
The main advantage of trading using opposite Yankershop Food and Jason Furniture positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yankershop Food position performs unexpectedly, Jason Furniture 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 Jason Furniture will offset losses from the drop in Jason Furniture's long position.| Yankershop Food vs. Mango Excellent Media | Yankershop Food vs. Threes Company Media | Yankershop Food vs. Spring Airlines Co | Yankershop Food vs. Heilongjiang Publishing Media |
| Jason Furniture vs. PetroChina Co Ltd | Jason Furniture vs. Gansu Jiu Steel | Jason Furniture vs. Ming Yang Smart | Jason Furniture vs. Aba Chemicals Corp |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Other Complementary Tools
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Stocks Directory Find actively traded stocks across global markets | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |