Correlation Between EMBARK EDUCATION and JINS HOLDINGS
Can any of the company-specific risk be diversified away by investing in both EMBARK EDUCATION and JINS HOLDINGS 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 EMBARK EDUCATION and JINS HOLDINGS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between EMBARK EDUCATION LTD and JINS HOLDINGS INC, you can compare the effects of market volatilities on EMBARK EDUCATION and JINS HOLDINGS 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 EMBARK EDUCATION with a short position of JINS HOLDINGS. Check out your portfolio center. Please also check ongoing floating volatility patterns of EMBARK EDUCATION and JINS HOLDINGS.
Diversification Opportunities for EMBARK EDUCATION and JINS HOLDINGS
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between EMBARK and JINS is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding EMBARK EDUCATION LTD and JINS HOLDINGS INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JINS HOLDINGS INC and EMBARK EDUCATION 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 EMBARK EDUCATION LTD are associated (or correlated) with JINS HOLDINGS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JINS HOLDINGS INC has no effect on the direction of EMBARK EDUCATION i.e., EMBARK EDUCATION and JINS HOLDINGS go up and down completely randomly.
Pair Corralation between EMBARK EDUCATION and JINS HOLDINGS
If you would invest 3,920 in JINS HOLDINGS INC on November 4, 2024 and sell it today you would earn a total of 420.00 from holding JINS HOLDINGS INC or generate 10.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
EMBARK EDUCATION LTD vs. JINS HOLDINGS INC
Performance |
| Timeline |
| EMBARK EDUCATION LTD |
| JINS HOLDINGS INC |
EMBARK EDUCATION and JINS HOLDINGS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EMBARK EDUCATION and JINS HOLDINGS
The main advantage of trading using opposite EMBARK EDUCATION and JINS HOLDINGS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EMBARK EDUCATION position performs unexpectedly, JINS HOLDINGS 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 JINS HOLDINGS will offset losses from the drop in JINS HOLDINGS's long position.| EMBARK EDUCATION vs. MidCap Financial Investment | EMBARK EDUCATION vs. Take Two Interactive Software | EMBARK EDUCATION vs. CHRYSALIS INVESTMENTS LTD | EMBARK EDUCATION vs. HK Electric Investments |
| JINS HOLDINGS vs. Tyson Foods | JINS HOLDINGS vs. United Natural Foods | JINS HOLDINGS vs. Performance Food Group | JINS HOLDINGS vs. Harmony 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio |