Correlation Between Jahen Household and Maxvision Technology
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jahen Household Products and Maxvision Technology Corp, you can compare the effects of market volatilities on Jahen Household and Maxvision Technology 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 Maxvision Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jahen Household and Maxvision Technology.
Diversification Opportunities for Jahen Household and Maxvision Technology
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Jahen and Maxvision is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Jahen Household Products and Maxvision Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maxvision Technology Corp 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 Maxvision Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maxvision Technology Corp has no effect on the direction of Jahen Household i.e., Jahen Household and Maxvision Technology go up and down completely randomly.
Pair Corralation between Jahen Household and Maxvision Technology
Assuming the 90 days trading horizon Jahen Household Products is expected to under-perform the Maxvision Technology. In addition to that, Jahen Household is 1.14 times more volatile than Maxvision Technology Corp. It trades about -0.02 of its total potential returns per unit of risk. Maxvision Technology Corp is currently generating about -0.02 per unit of volatility. If you would invest 3,331 in Maxvision Technology Corp on October 13, 2024 and sell it today you would lose (1,148) from holding Maxvision Technology Corp or give up 34.46% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jahen Household Products vs. Maxvision Technology Corp
Performance |
| Timeline |
| Jahen Household Products |
| Maxvision Technology Corp |
Jahen Household and Maxvision Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jahen Household and Maxvision Technology
The main advantage of trading using opposite Jahen Household and Maxvision Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jahen Household position performs unexpectedly, Maxvision Technology 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 Maxvision Technology will offset losses from the drop in Maxvision Technology's long position.| Jahen Household vs. Anhui Huaren Health | Jahen Household vs. Kuangda Technology Group | Jahen Household vs. Digiwin Software Co | Jahen Household vs. Tianjin Ruixin Technology |
| Maxvision Technology vs. Ningbo Tech Bank Co | Maxvision Technology vs. Postal Savings Bank | Maxvision Technology vs. Yindu Kitchen Equipment | Maxvision Technology 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing |