Correlation Between China Publishing and Jason Furniture
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By analyzing existing cross correlation between China Publishing Media and Jason Furniture, you can compare the effects of market volatilities on China Publishing and Jason Furniture 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 China Publishing with a short position of Jason Furniture. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Publishing and Jason Furniture.
Diversification Opportunities for China Publishing and Jason Furniture
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between China and Jason is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding China Publishing Media and Jason Furniture in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jason Furniture and China Publishing 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 China Publishing Media are associated (or correlated) with Jason Furniture. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jason Furniture has no effect on the direction of China Publishing i.e., China Publishing and Jason Furniture go up and down completely randomly.
Pair Corralation between China Publishing and Jason Furniture
Assuming the 90 days trading horizon China Publishing Media is expected to generate 1.47 times more return on investment than Jason Furniture. However, China Publishing is 1.47 times more volatile than Jason Furniture. It trades about 0.02 of its potential returns per unit of risk. Jason Furniture is currently generating about -0.09 per unit of risk. If you would invest 699.00 in China Publishing Media on October 29, 2024 and sell it today you would lose (1.00) from holding China Publishing Media or give up 0.14% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Publishing Media vs. Jason Furniture
Performance |
| Timeline |
| China Publishing Media |
| Jason Furniture |
China Publishing and Jason Furniture Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Publishing and Jason Furniture
The main advantage of trading using opposite China Publishing and Jason Furniture positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Publishing position performs unexpectedly, Jason Furniture 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 Jason Furniture will offset losses from the drop in Jason Furniture's long position.| China Publishing vs. Goodwill E Health | China Publishing vs. Dezhan HealthCare Co | China Publishing vs. Tongling Nonferrous Metals | China Publishing vs. Youngy Health Co |
| Jason Furniture vs. Shanghai Yanpu Metal | Jason Furniture vs. Western Metal Materials | Jason Furniture vs. Sino Platinum Metals Co | Jason Furniture vs. Tongling Nonferrous Metals |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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