Correlation Between Guilin Seamild and Jahen Household
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By analyzing existing cross correlation between Guilin Seamild Foods and Jahen Household Products, you can compare the effects of market volatilities on Guilin Seamild and Jahen Household 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 Guilin Seamild with a short position of Jahen Household. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Jahen Household.
Diversification Opportunities for Guilin Seamild and Jahen Household
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Guilin and Jahen is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Jahen Household Products in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jahen Household Products and Guilin Seamild 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 Guilin Seamild Foods are associated (or correlated) with Jahen Household. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jahen Household Products has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Jahen Household go up and down completely randomly.
Pair Corralation between Guilin Seamild and Jahen Household
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 0.8 times more return on investment than Jahen Household. However, Guilin Seamild Foods is 1.25 times less risky than Jahen Household. It trades about -0.16 of its potential returns per unit of risk. Jahen Household Products is currently generating about -0.33 per unit of risk. If you would invest 1,701 in Guilin Seamild Foods on October 14, 2024 and sell it today you would lose (180.00) from holding Guilin Seamild Foods or give up 10.58% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Jahen Household Products
Performance |
| Timeline |
| Guilin Seamild Foods |
| Jahen Household Products |
Guilin Seamild and Jahen Household Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Jahen Household
The main advantage of trading using opposite Guilin Seamild and Jahen Household positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Jahen Household 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 Jahen Household will offset losses from the drop in Jahen Household's long position.| Guilin Seamild vs. Guangzhou Ruoyuchen Information | Guilin Seamild vs. Jinxiandai Information Industry | Guilin Seamild vs. Hangzhou Gisway Information | Guilin Seamild vs. Zoy Home Furnishing |
| Jahen Household vs. HaiXin Foods Co | Jahen Household vs. Guangdong Wens Foodstuff | Jahen Household vs. Eastroc Beverage Group | Jahen Household vs. China World Trade |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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