Correlation Between Jahen Household and Sichuan Fulin
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By analyzing existing cross correlation between Jahen Household Products and Sichuan Fulin Transportation, you can compare the effects of market volatilities on Jahen Household and Sichuan Fulin 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 Jahen Household with a short position of Sichuan Fulin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jahen Household and Sichuan Fulin.
Diversification Opportunities for Jahen Household and Sichuan Fulin
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jahen and Sichuan is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Jahen Household Products and Sichuan Fulin Transportation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sichuan Fulin Transp and Jahen Household 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 Jahen Household Products are associated (or correlated) with Sichuan Fulin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sichuan Fulin Transp has no effect on the direction of Jahen Household i.e., Jahen Household and Sichuan Fulin go up and down completely randomly.
Pair Corralation between Jahen Household and Sichuan Fulin
Assuming the 90 days trading horizon Jahen Household Products is expected to under-perform the Sichuan Fulin. In addition to that, Jahen Household is 1.26 times more volatile than Sichuan Fulin Transportation. It trades about -0.02 of its total potential returns per unit of risk. Sichuan Fulin Transportation is currently generating about 0.02 per unit of volatility. If you would invest 655.00 in Sichuan Fulin Transportation on October 16, 2024 and sell it today you would earn a total of 49.00 from holding Sichuan Fulin Transportation or generate 7.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jahen Household Products vs. Sichuan Fulin Transportation
Performance |
| Timeline |
| Jahen Household Products |
| Sichuan Fulin Transp |
Jahen Household and Sichuan Fulin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jahen Household and Sichuan Fulin
The main advantage of trading using opposite Jahen Household and Sichuan Fulin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jahen Household position performs unexpectedly, Sichuan Fulin 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 Sichuan Fulin will offset losses from the drop in Sichuan Fulin's long position.| Jahen Household vs. Ciwen Media Co | Jahen Household vs. Beijing Enlight Media | Jahen Household vs. Guangdong Silvere Sci | Jahen Household vs. Zhengzhou Coal Mining |
| Sichuan Fulin vs. Harvest Fund Management | Sichuan Fulin vs. Jiahe Foods Industry | Sichuan Fulin vs. Shanghai Ziyan Foods | Sichuan Fulin vs. Jahen Household Products |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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