Correlation Between Iat Automobile and Jahen Household
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By analyzing existing cross correlation between Iat Automobile Technology and Jahen Household Products, you can compare the effects of market volatilities on Iat Automobile 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 Iat Automobile with a short position of Jahen Household. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and Jahen Household.
Diversification Opportunities for Iat Automobile and Jahen Household
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Iat and Jahen is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile 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 Iat Automobile 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 Iat Automobile 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 Iat Automobile i.e., Iat Automobile and Jahen Household go up and down completely randomly.
Pair Corralation between Iat Automobile and Jahen Household
Assuming the 90 days trading horizon Iat Automobile Technology is expected to generate 1.14 times more return on investment than Jahen Household. However, Iat Automobile is 1.14 times more volatile than Jahen Household Products. It trades about 0.03 of its potential returns per unit of risk. Jahen Household Products is currently generating about 0.0 per unit of risk. If you would invest 1,121 in Iat Automobile Technology on September 14, 2024 and sell it today you would earn a total of 202.00 from holding Iat Automobile Technology or generate 18.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Iat Automobile Technology vs. Jahen Household Products
Performance |
| Timeline |
| Iat Automobile Technology |
| Jahen Household Products |
Iat Automobile and Jahen Household Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Iat Automobile and Jahen Household
The main advantage of trading using opposite Iat Automobile and Jahen Household positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile 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.| Iat Automobile vs. Cofoe Medical Technology | Iat Automobile vs. China Asset Management | Iat Automobile vs. Vanfund Urban Investment | Iat Automobile vs. Zoje Resources Investment |
| Jahen Household vs. China Sports Industry | Jahen Household vs. Hainan Haiqi Transportation | Jahen Household vs. Sino Platinum Metals Co | Jahen Household vs. Aluminum Corp of |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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