Correlation Between Jafron Biomedical and Poly Real
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By analyzing existing cross correlation between Jafron Biomedical Co and Poly Real Estate, you can compare the effects of market volatilities on Jafron Biomedical 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 Jafron Biomedical with a short position of Poly Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jafron Biomedical and Poly Real.
Diversification Opportunities for Jafron Biomedical and Poly Real
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jafron and Poly is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Jafron Biomedical Co 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 Jafron Biomedical 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 Jafron Biomedical Co 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 Jafron Biomedical i.e., Jafron Biomedical and Poly Real go up and down completely randomly.
Pair Corralation between Jafron Biomedical and Poly Real
Assuming the 90 days trading horizon Jafron Biomedical Co is expected to under-perform the Poly Real. In addition to that, Jafron Biomedical is 1.2 times more volatile than Poly Real Estate. It trades about -0.24 of its total potential returns per unit of risk. Poly Real Estate is currently generating about -0.18 per unit of volatility. If you would invest 1,082 in Poly Real Estate on September 13, 2024 and sell it today you would lose (66.00) from holding Poly Real Estate or give up 6.1% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jafron Biomedical Co vs. Poly Real Estate
Performance |
| Timeline |
| Jafron Biomedical |
| Poly Real Estate |
Jafron Biomedical and Poly Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jafron Biomedical and Poly Real
The main advantage of trading using opposite Jafron Biomedical and Poly Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jafron Biomedical 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.| Jafron Biomedical vs. Industrial and Commercial | Jafron Biomedical vs. Kweichow Moutai Co | Jafron Biomedical vs. Agricultural Bank of | Jafron Biomedical vs. China Mobile Limited |
| Poly Real vs. Hefei Metalforming Mach | Poly Real vs. Chengtun Mining Group | Poly Real vs. Ningbo Thermal Power | Poly Real vs. MayAir Technology Co |
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 Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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