Correlation Between Jiahe Foods and Markor International
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By analyzing existing cross correlation between Jiahe Foods Industry and Markor International Home, you can compare the effects of market volatilities on Jiahe Foods 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 Jiahe Foods with a short position of Markor International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiahe Foods and Markor International.
Diversification Opportunities for Jiahe Foods and Markor International
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jiahe and Markor is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Jiahe Foods Industry 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 Jiahe Foods 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 Jiahe Foods Industry 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 Jiahe Foods i.e., Jiahe Foods and Markor International go up and down completely randomly.
Pair Corralation between Jiahe Foods and Markor International
Assuming the 90 days trading horizon Jiahe Foods Industry is expected to generate 0.82 times more return on investment than Markor International. However, Jiahe Foods Industry is 1.23 times less risky than Markor International. It trades about -0.34 of its potential returns per unit of risk. Markor International Home is currently generating about -0.66 per unit of risk. If you would invest 1,447 in Jiahe Foods Industry on October 15, 2024 and sell it today you would lose (292.00) from holding Jiahe Foods Industry or give up 20.18% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Jiahe Foods Industry vs. Markor International Home
Performance |
Timeline |
Jiahe Foods Industry |
Markor International Home |
Jiahe Foods and Markor International Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Jiahe Foods and Markor International
The main advantage of trading using opposite Jiahe Foods and Markor International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiahe Foods 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.Jiahe Foods vs. Easyhome New Retail | Jiahe Foods vs. HeNan Splendor Science | Jiahe Foods vs. Bomesc Offshore Engineering | Jiahe Foods vs. Hua Xia Bank |
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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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