Correlation Between Shenzhen Kexin and Jahen Household
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By analyzing existing cross correlation between Shenzhen Kexin Communication and Jahen Household Products, you can compare the effects of market volatilities on Shenzhen Kexin 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 Shenzhen Kexin with a short position of Jahen Household. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Kexin and Jahen Household.
Diversification Opportunities for Shenzhen Kexin and Jahen Household
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Shenzhen and Jahen is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Kexin Communication 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 Shenzhen Kexin 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 Shenzhen Kexin Communication 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 Shenzhen Kexin i.e., Shenzhen Kexin and Jahen Household go up and down completely randomly.
Pair Corralation between Shenzhen Kexin and Jahen Household
Assuming the 90 days trading horizon Shenzhen Kexin Communication is expected to generate 1.01 times more return on investment than Jahen Household. However, Shenzhen Kexin is 1.01 times more volatile than Jahen Household Products. It trades about 0.02 of its potential returns per unit of risk. Jahen Household Products is currently generating about 0.02 per unit of risk. If you would invest 1,452 in Shenzhen Kexin Communication on September 12, 2024 and sell it today you would earn a total of 41.00 from holding Shenzhen Kexin Communication or generate 2.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen Kexin Communication vs. Jahen Household Products
Performance |
| Timeline |
| Shenzhen Kexin Commu |
| Jahen Household Products |
Shenzhen Kexin and Jahen Household Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Kexin and Jahen Household
The main advantage of trading using opposite Shenzhen Kexin and Jahen Household positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Kexin 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.| Shenzhen Kexin vs. Gansu Jiu Steel | Shenzhen Kexin vs. Shandong Mining Machinery | Shenzhen Kexin vs. Aba Chemicals Corp | Shenzhen Kexin vs. BlueFocus Communication Group |
| Jahen Household vs. ChengDu Hi Tech Development | Jahen Household vs. Guangdong Shenglu Telecommunication | Jahen Household vs. Tongyu Communication | Jahen Household vs. FSPG Hi Tech 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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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