Correlation Between Jason Furniture and Ye Chiu
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By analyzing existing cross correlation between Jason Furniture and Ye Chiu Metal, you can compare the effects of market volatilities on Jason Furniture and Ye Chiu 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 Jason Furniture with a short position of Ye Chiu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jason Furniture and Ye Chiu.
Diversification Opportunities for Jason Furniture and Ye Chiu
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jason and 601388 is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Jason Furniture and Ye Chiu Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ye Chiu Metal and Jason Furniture 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 Jason Furniture are associated (or correlated) with Ye Chiu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ye Chiu Metal has no effect on the direction of Jason Furniture i.e., Jason Furniture and Ye Chiu go up and down completely randomly.
Pair Corralation between Jason Furniture and Ye Chiu
Assuming the 90 days trading horizon Jason Furniture is expected to generate 0.95 times more return on investment than Ye Chiu. However, Jason Furniture is 1.05 times less risky than Ye Chiu. It trades about -0.02 of its potential returns per unit of risk. Ye Chiu Metal is currently generating about -0.02 per unit of risk. If you would invest 4,027 in Jason Furniture on October 26, 2024 and sell it today you would lose (1,180) from holding Jason Furniture or give up 29.3% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jason Furniture vs. Ye Chiu Metal
Performance |
| Timeline |
| Jason Furniture |
| Ye Chiu Metal |
Jason Furniture and Ye Chiu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jason Furniture and Ye Chiu
The main advantage of trading using opposite Jason Furniture and Ye Chiu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jason Furniture position performs unexpectedly, Ye Chiu 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 Ye Chiu will offset losses from the drop in Ye Chiu's long position.| Jason Furniture vs. Railway Signal Communication | Jason Furniture vs. Tsingtao Brewery Co | Jason Furniture vs. Dr Peng Telecom | Jason Furniture vs. Bomesc Offshore Engineering |
| Ye Chiu vs. Zijin Mining Group | Ye Chiu vs. Wanhua Chemical Group | Ye Chiu vs. Baoshan Iron Steel | Ye Chiu vs. Shandong Gold 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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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