Correlation Between SOEDER SPORTFISKE and JIAHUA STORES
Can any of the company-specific risk be diversified away by investing in both SOEDER SPORTFISKE and JIAHUA STORES at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining SOEDER SPORTFISKE and JIAHUA STORES into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SOEDER SPORTFISKE AB and JIAHUA STORES, you can compare the effects of market volatilities on SOEDER SPORTFISKE and JIAHUA STORES 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 SOEDER SPORTFISKE with a short position of JIAHUA STORES. Check out your portfolio center. Please also check ongoing floating volatility patterns of SOEDER SPORTFISKE and JIAHUA STORES.
Diversification Opportunities for SOEDER SPORTFISKE and JIAHUA STORES
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SOEDER and JIAHUA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SOEDER SPORTFISKE AB and JIAHUA STORES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JIAHUA STORES and SOEDER SPORTFISKE 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 SOEDER SPORTFISKE AB are associated (or correlated) with JIAHUA STORES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JIAHUA STORES has no effect on the direction of SOEDER SPORTFISKE i.e., SOEDER SPORTFISKE and JIAHUA STORES go up and down completely randomly.
Pair Corralation between SOEDER SPORTFISKE and JIAHUA STORES
If you would invest 210.00 in SOEDER SPORTFISKE AB on November 3, 2024 and sell it today you would earn a total of 38.00 from holding SOEDER SPORTFISKE AB or generate 18.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
SOEDER SPORTFISKE AB vs. JIAHUA STORES
Performance |
| Timeline |
| SOEDER SPORTFISKE |
| JIAHUA STORES |
SOEDER SPORTFISKE and JIAHUA STORES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SOEDER SPORTFISKE and JIAHUA STORES
The main advantage of trading using opposite SOEDER SPORTFISKE and JIAHUA STORES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SOEDER SPORTFISKE position performs unexpectedly, JIAHUA STORES 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 JIAHUA STORES will offset losses from the drop in JIAHUA STORES's long position.| SOEDER SPORTFISKE vs. Booking Holdings | SOEDER SPORTFISKE vs. Oriental Land Co | SOEDER SPORTFISKE vs. ANTA Sports Products | SOEDER SPORTFISKE vs. Li Ning Company |
| JIAHUA STORES vs. CAIRN HOMES EO | JIAHUA STORES vs. Neinor Homes SA | JIAHUA STORES vs. KENEDIX OFFICE INV | JIAHUA STORES vs. BE Semiconductor Industries |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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