Correlation Between Juewei Food and BTG Hotels
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By analyzing existing cross correlation between Juewei Food Co and BTG Hotels Group, you can compare the effects of market volatilities on Juewei Food and BTG Hotels 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 Juewei Food with a short position of BTG Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Juewei Food and BTG Hotels.
Diversification Opportunities for Juewei Food and BTG Hotels
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Juewei and BTG is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Juewei Food Co and BTG Hotels Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BTG Hotels Group and Juewei Food 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 Juewei Food Co are associated (or correlated) with BTG Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTG Hotels Group has no effect on the direction of Juewei Food i.e., Juewei Food and BTG Hotels go up and down completely randomly.
Pair Corralation between Juewei Food and BTG Hotels
Assuming the 90 days trading horizon Juewei Food Co is expected to under-perform the BTG Hotels. In addition to that, Juewei Food is 1.31 times more volatile than BTG Hotels Group. It trades about -0.09 of its total potential returns per unit of risk. BTG Hotels Group is currently generating about -0.05 per unit of volatility. If you would invest 2,367 in BTG Hotels Group on October 13, 2024 and sell it today you would lose (1,071) from holding BTG Hotels Group or give up 45.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Juewei Food Co vs. BTG Hotels Group
Performance |
| Timeline |
| Juewei Food |
| BTG Hotels Group |
Juewei Food and BTG Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Juewei Food and BTG Hotels
The main advantage of trading using opposite Juewei Food and BTG Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Juewei Food position performs unexpectedly, BTG Hotels 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 BTG Hotels will offset losses from the drop in BTG Hotels' long position.| Juewei Food vs. Allwin Telecommunication Co | Juewei Food vs. Humanwell Healthcare Group | Juewei Food vs. Youngy Health Co | Juewei Food vs. Everjoy Health Group |
| BTG Hotels vs. Juewei Food Co | BTG Hotels vs. Guilin Seamild Foods | BTG Hotels vs. Kuangda Technology Group | BTG Hotels vs. Linewell Software Co |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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