Correlation Between Dupont De and Jangho Group
Specify exactly 2 symbols:
By analyzing existing cross correlation between Dupont De Nemours and Jangho Group Co, you can compare the effects of market volatilities on Dupont De and Jangho Group 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 Dupont De with a short position of Jangho Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dupont De and Jangho Group.
Diversification Opportunities for Dupont De and Jangho Group
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Dupont and Jangho is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Dupont De Nemours and Jangho Group Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jangho Group and Dupont De 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 Dupont De Nemours are associated (or correlated) with Jangho Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jangho Group has no effect on the direction of Dupont De i.e., Dupont De and Jangho Group go up and down completely randomly.
Pair Corralation between Dupont De and Jangho Group
Allowing for the 90-day total investment horizon Dupont De Nemours is expected to generate 0.74 times more return on investment than Jangho Group. However, Dupont De Nemours is 1.35 times less risky than Jangho Group. It trades about 0.03 of its potential returns per unit of risk. Jangho Group Co is currently generating about -0.02 per unit of risk. If you would invest 6,692 in Dupont De Nemours on November 30, 2024 and sell it today you would earn a total of 1,485 from holding Dupont De Nemours or generate 22.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 96.36% |
| Values | Daily Returns |
Dupont De Nemours vs. Jangho Group Co
Performance |
| Timeline |
| Dupont De Nemours |
| Jangho Group |
Dupont De and Jangho Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dupont De and Jangho Group
The main advantage of trading using opposite Dupont De and Jangho Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dupont De position performs unexpectedly, Jangho Group 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 Jangho Group will offset losses from the drop in Jangho Group's long position.| Dupont De vs. Eastman Chemical | Dupont De vs. Olin Corporation | Dupont De vs. Cabot | Dupont De vs. Kronos Worldwide |
| Jangho Group vs. Peoples Insurance of | Jangho Group vs. Guosheng Financial Holding | Jangho Group vs. Duzhe Publishing Media | Jangho Group vs. Unisplendour Corp |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Other Complementary Tools
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |