Correlation Between Shenzhen and Jahen Household
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By analyzing existing cross correlation between Shenzhen AV Display Co and Jahen Household Products, you can compare the effects of market volatilities on Shenzhen 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 with a short position of Jahen Household. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen and Jahen Household.
Diversification Opportunities for Shenzhen and Jahen Household
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Shenzhen and Jahen is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen AV Display Co 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 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 AV Display Co 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 i.e., Shenzhen and Jahen Household go up and down completely randomly.
Pair Corralation between Shenzhen and Jahen Household
Assuming the 90 days trading horizon Shenzhen AV Display Co is expected to generate 0.93 times more return on investment than Jahen Household. However, Shenzhen AV Display Co is 1.07 times less risky than Jahen Household. 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 2,760 in Shenzhen AV Display Co on October 18, 2024 and sell it today you would earn a total of 270.00 from holding Shenzhen AV Display Co or generate 9.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen AV Display Co vs. Jahen Household Products
Performance |
| Timeline |
| Shenzhen AV Display |
| Jahen Household Products |
Shenzhen and Jahen Household Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen and Jahen Household
The main advantage of trading using opposite Shenzhen and Jahen Household positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen 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 vs. Dymatic Chemicals | Shenzhen vs. Dosilicon Co | Shenzhen vs. Caihong Display Devices | Shenzhen vs. Fujian Newland Computer |
| Jahen Household vs. Kuangda Technology Group | Jahen Household vs. Suzhou Mingzhi Technology | Jahen Household vs. Holitech Technology Co | Jahen Household vs. Fiberhome Telecommunication Technologies |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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