Correlation Between Jahen Household and JCHX Mining
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By analyzing existing cross correlation between Jahen Household Products and JCHX Mining Management, you can compare the effects of market volatilities on Jahen Household and JCHX Mining 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 JCHX Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jahen Household and JCHX Mining.
Diversification Opportunities for Jahen Household and JCHX Mining
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Jahen and JCHX is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Jahen Household Products and JCHX Mining Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JCHX Mining Management 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 JCHX Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JCHX Mining Management has no effect on the direction of Jahen Household i.e., Jahen Household and JCHX Mining go up and down completely randomly.
Pair Corralation between Jahen Household and JCHX Mining
Assuming the 90 days trading horizon Jahen Household is expected to generate 3.08 times less return on investment than JCHX Mining. But when comparing it to its historical volatility, Jahen Household Products is 1.15 times less risky than JCHX Mining. It trades about 0.06 of its potential returns per unit of risk. JCHX Mining Management is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 3,782 in JCHX Mining Management on December 30, 2024 and sell it today you would earn a total of 346.00 from holding JCHX Mining Management or generate 9.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jahen Household Products vs. JCHX Mining Management
Performance |
| Timeline |
| Jahen Household Products |
| JCHX Mining Management |
Jahen Household and JCHX Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jahen Household and JCHX Mining
The main advantage of trading using opposite Jahen Household and JCHX Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jahen Household position performs unexpectedly, JCHX Mining 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 JCHX Mining will offset losses from the drop in JCHX Mining's long position.| Jahen Household vs. Hubei Xingfa Chemicals | Jahen Household vs. Hangzhou Minsheng Healthcare | Jahen Household vs. Heren Health Co | Jahen Household vs. Mingchen Health Co |
| JCHX Mining vs. Chengtun Mining Group | JCHX Mining vs. Guocheng Mining Co | JCHX Mining vs. Soochow Suzhou Industrial | JCHX Mining vs. Tibet Huayu Mining |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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