Correlation Between Jahen Household and Marssenger Kitchenware
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By analyzing existing cross correlation between Jahen Household Products and Marssenger Kitchenware Co, you can compare the effects of market volatilities on Jahen Household and Marssenger Kitchenware 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 Marssenger Kitchenware. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jahen Household and Marssenger Kitchenware.
Diversification Opportunities for Jahen Household and Marssenger Kitchenware
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jahen and Marssenger is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Jahen Household Products and Marssenger Kitchenware Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marssenger Kitchenware 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 Marssenger Kitchenware. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marssenger Kitchenware has no effect on the direction of Jahen Household i.e., Jahen Household and Marssenger Kitchenware go up and down completely randomly.
Pair Corralation between Jahen Household and Marssenger Kitchenware
Assuming the 90 days trading horizon Jahen Household Products is expected to generate 0.89 times more return on investment than Marssenger Kitchenware. However, Jahen Household Products is 1.12 times less risky than Marssenger Kitchenware. It trades about -0.06 of its potential returns per unit of risk. Marssenger Kitchenware Co is currently generating about -0.12 per unit of risk. If you would invest 1,572 in Jahen Household Products on August 27, 2024 and sell it today you would lose (65.00) from holding Jahen Household Products or give up 4.13% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jahen Household Products vs. Marssenger Kitchenware Co
Performance |
| Timeline |
| Jahen Household Products |
| Marssenger Kitchenware |
Jahen Household and Marssenger Kitchenware Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jahen Household and Marssenger Kitchenware
The main advantage of trading using opposite Jahen Household and Marssenger Kitchenware positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jahen Household position performs unexpectedly, Marssenger Kitchenware 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 Marssenger Kitchenware will offset losses from the drop in Marssenger Kitchenware's long position.| Jahen Household vs. Zijin Mining Group | Jahen Household vs. Wanhua Chemical Group | Jahen Household vs. Baoshan Iron Steel | Jahen Household vs. Shandong Gold Mining |
| Marssenger Kitchenware vs. China Petroleum Chemical | Marssenger Kitchenware vs. PetroChina Co Ltd | Marssenger Kitchenware vs. China State Construction | Marssenger Kitchenware vs. China Railway Group |
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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