Correlation Between JCHX Mining and Markor International
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By analyzing existing cross correlation between JCHX Mining Management and Markor International Home, you can compare the effects of market volatilities on JCHX Mining and Markor International 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 JCHX Mining with a short position of Markor International. Check out your portfolio center. Please also check ongoing floating volatility patterns of JCHX Mining and Markor International.
Diversification Opportunities for JCHX Mining and Markor International
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between JCHX and Markor is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding JCHX Mining Management and Markor International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Markor International Home and JCHX Mining 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 JCHX Mining Management are associated (or correlated) with Markor International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Markor International Home has no effect on the direction of JCHX Mining i.e., JCHX Mining and Markor International go up and down completely randomly.
Pair Corralation between JCHX Mining and Markor International
Assuming the 90 days trading horizon JCHX Mining Management is expected to generate 0.56 times more return on investment than Markor International. However, JCHX Mining Management is 1.77 times less risky than Markor International. It trades about 0.15 of its potential returns per unit of risk. Markor International Home is currently generating about -0.14 per unit of risk. If you would invest 3,838 in JCHX Mining Management on November 5, 2024 and sell it today you would earn a total of 153.00 from holding JCHX Mining Management or generate 3.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JCHX Mining Management vs. Markor International Home
Performance |
| Timeline |
| JCHX Mining Management |
| Markor International Home |
JCHX Mining and Markor International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JCHX Mining and Markor International
The main advantage of trading using opposite JCHX Mining and Markor International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JCHX Mining position performs unexpectedly, Markor International 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 Markor International will offset losses from the drop in Markor International's long position.| JCHX Mining vs. Chahua Modern Housewares | JCHX Mining vs. Wuxi Double Elephant | JCHX Mining vs. Jiangsu Jinling Sports | JCHX Mining vs. Shuhua Sports 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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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