Correlation Between INKON Life and Jahen Household
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By analyzing existing cross correlation between INKON Life Technology and Jahen Household Products, you can compare the effects of market volatilities on INKON Life 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 INKON Life with a short position of Jahen Household. Check out your portfolio center. Please also check ongoing floating volatility patterns of INKON Life and Jahen Household.
Diversification Opportunities for INKON Life and Jahen Household
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between INKON and Jahen is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding INKON Life Technology 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 INKON Life 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 INKON Life Technology 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 INKON Life i.e., INKON Life and Jahen Household go up and down completely randomly.
Pair Corralation between INKON Life and Jahen Household
Assuming the 90 days trading horizon INKON Life Technology is expected to under-perform the Jahen Household. But the stock apears to be less risky and, when comparing its historical volatility, INKON Life Technology is 3.08 times less risky than Jahen Household. The stock trades about -0.11 of its potential returns per unit of risk. The Jahen Household Products is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 1,595 in Jahen Household Products on September 29, 2024 and sell it today you would lose (27.00) from holding Jahen Household Products or give up 1.69% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
INKON Life Technology vs. Jahen Household Products
Performance |
| Timeline |
| INKON Life Technology |
| Jahen Household Products |
INKON Life and Jahen Household Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INKON Life and Jahen Household
The main advantage of trading using opposite INKON Life and Jahen Household positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INKON Life 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.| INKON Life vs. Cultural Investment Holdings | INKON Life vs. Gome Telecom Equipment | INKON Life vs. Bus Online Co | INKON Life vs. Holitech Technology Co |
| Jahen Household vs. Allmed Medical Products | Jahen Household vs. Holitech Technology Co | Jahen Household vs. Xiangyu Medical Co | Jahen Household vs. Shenzhen Glory Medical |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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