Correlation Between Jinling Hotel and Easyhome New
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By analyzing existing cross correlation between Jinling Hotel Corp and Easyhome New Retail, you can compare the effects of market volatilities on Jinling Hotel and Easyhome New 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 Jinling Hotel with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jinling Hotel and Easyhome New.
Diversification Opportunities for Jinling Hotel and Easyhome New
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Jinling and Easyhome is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Jinling Hotel Corp and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Jinling Hotel 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 Jinling Hotel Corp are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Jinling Hotel i.e., Jinling Hotel and Easyhome New go up and down completely randomly.
Pair Corralation between Jinling Hotel and Easyhome New
Assuming the 90 days trading horizon Jinling Hotel Corp is expected to under-perform the Easyhome New. But the stock apears to be less risky and, when comparing its historical volatility, Jinling Hotel Corp is 2.23 times less risky than Easyhome New. The stock trades about -0.11 of its potential returns per unit of risk. The Easyhome New Retail is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 373.00 in Easyhome New Retail on October 24, 2024 and sell it today you would lose (18.00) from holding Easyhome New Retail or give up 4.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jinling Hotel Corp vs. Easyhome New Retail
Performance |
| Timeline |
| Jinling Hotel Corp |
| Easyhome New Retail |
Jinling Hotel and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jinling Hotel and Easyhome New
The main advantage of trading using opposite Jinling Hotel and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jinling Hotel position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Jinling Hotel vs. XiaMen HongXin Electron tech | Jinling Hotel vs. Xiamen Jihong Package | Jinling Hotel vs. Ligao Foods CoLtd | Jinling Hotel vs. Linewell Software Co |
| Easyhome New vs. Anhui Gujing Distillery | Easyhome New vs. V V Food | Easyhome New vs. Ye Chiu Metal | Easyhome New vs. Jiajia Food 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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