Correlation Between Foryou Corp and Jiangsu Financial
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By analyzing existing cross correlation between Foryou Corp and Jiangsu Financial Leasing, you can compare the effects of market volatilities on Foryou Corp and Jiangsu Financial 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 Foryou Corp with a short position of Jiangsu Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Foryou Corp and Jiangsu Financial.
Diversification Opportunities for Foryou Corp and Jiangsu Financial
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Foryou and Jiangsu is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Foryou Corp and Jiangsu Financial Leasing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Financial Leasing and Foryou Corp 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 Foryou Corp are associated (or correlated) with Jiangsu Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Financial Leasing has no effect on the direction of Foryou Corp i.e., Foryou Corp and Jiangsu Financial go up and down completely randomly.
Pair Corralation between Foryou Corp and Jiangsu Financial
Assuming the 90 days trading horizon Foryou Corp is expected to under-perform the Jiangsu Financial. In addition to that, Foryou Corp is 1.92 times more volatile than Jiangsu Financial Leasing. It trades about -0.15 of its total potential returns per unit of risk. Jiangsu Financial Leasing is currently generating about -0.08 per unit of volatility. If you would invest 529.00 in Jiangsu Financial Leasing on September 12, 2024 and sell it today you would lose (11.00) from holding Jiangsu Financial Leasing or give up 2.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Foryou Corp vs. Jiangsu Financial Leasing
Performance |
| Timeline |
| Foryou Corp |
| Jiangsu Financial Leasing |
Foryou Corp and Jiangsu Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Foryou Corp and Jiangsu Financial
The main advantage of trading using opposite Foryou Corp and Jiangsu Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Foryou Corp position performs unexpectedly, Jiangsu Financial 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 Jiangsu Financial will offset losses from the drop in Jiangsu Financial's long position.| Foryou Corp vs. Zhongzhu Medical Holdings | Foryou Corp vs. Guangzhou Boji Medical | Foryou Corp vs. Hua Xia Bank | Foryou Corp vs. Bank of Suzhou |
| Jiangsu Financial vs. China Petroleum Chemical | Jiangsu Financial vs. PetroChina Co Ltd | Jiangsu Financial vs. China Mobile Limited | Jiangsu Financial vs. Industrial and Commercial |
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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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