Correlation Between CH Robinson and Jayud Global
Can any of the company-specific risk be diversified away by investing in both CH Robinson and Jayud Global 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 CH Robinson and Jayud Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CH Robinson Worldwide and Jayud Global Logistics, you can compare the effects of market volatilities on CH Robinson and Jayud Global 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 CH Robinson with a short position of Jayud Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of CH Robinson and Jayud Global.
Diversification Opportunities for CH Robinson and Jayud Global
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CHRW and Jayud is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding CH Robinson Worldwide and Jayud Global Logistics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jayud Global Logistics and CH Robinson 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 CH Robinson Worldwide are associated (or correlated) with Jayud Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jayud Global Logistics has no effect on the direction of CH Robinson i.e., CH Robinson and Jayud Global go up and down completely randomly.
Pair Corralation between CH Robinson and Jayud Global
Given the investment horizon of 90 days CH Robinson is expected to generate 24.75 times less return on investment than Jayud Global. But when comparing it to its historical volatility, CH Robinson Worldwide is 5.08 times less risky than Jayud Global. It trades about 0.01 of its potential returns per unit of risk. Jayud Global Logistics is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 400.00 in Jayud Global Logistics on November 5, 2024 and sell it today you would lose (29.00) from holding Jayud Global Logistics or give up 7.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.89% |
| Values | Daily Returns |
CH Robinson Worldwide vs. Jayud Global Logistics
Performance |
| Timeline |
| CH Robinson Worldwide |
| Jayud Global Logistics |
CH Robinson and Jayud Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CH Robinson and Jayud Global
The main advantage of trading using opposite CH Robinson and Jayud Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CH Robinson position performs unexpectedly, Jayud Global 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 Jayud Global will offset losses from the drop in Jayud Global's long position.| CH Robinson vs. JB Hunt Transport | CH Robinson vs. Landstar System | CH Robinson vs. Hub Group | CH Robinson vs. Forward Air |
| Jayud Global vs. Nexstar Broadcasting Group | Jayud Global vs. Taiwan Semiconductor Manufacturing | Jayud Global vs. Mattel Inc | Jayud Global vs. Here Media |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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