Correlation Between JIAHUA STORES and RTL Group
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By analyzing existing cross correlation between JIAHUA STORES and RTL Group SA, you can compare the effects of market volatilities on JIAHUA STORES and RTL 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 JIAHUA STORES with a short position of RTL Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of JIAHUA STORES and RTL Group.
Diversification Opportunities for JIAHUA STORES and RTL Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JIAHUA and RTL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JIAHUA STORES and RTL Group SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RTL Group SA and JIAHUA STORES 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 JIAHUA STORES are associated (or correlated) with RTL Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RTL Group SA has no effect on the direction of JIAHUA STORES i.e., JIAHUA STORES and RTL Group go up and down completely randomly.
Pair Corralation between JIAHUA STORES and RTL Group
If you would invest 2,385 in RTL Group SA on September 15, 2024 and sell it today you would earn a total of 350.00 from holding RTL Group SA or generate 14.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JIAHUA STORES vs. RTL Group SA
Performance |
| Timeline |
| JIAHUA STORES |
| RTL Group SA |
JIAHUA STORES and RTL Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JIAHUA STORES and RTL Group
The main advantage of trading using opposite JIAHUA STORES and RTL Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JIAHUA STORES position performs unexpectedly, RTL 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 RTL Group will offset losses from the drop in RTL Group's long position.| JIAHUA STORES vs. HF SINCLAIR P | JIAHUA STORES vs. INTERSHOP Communications Aktiengesellschaft | JIAHUA STORES vs. Highlight Communications AG | JIAHUA STORES vs. Gamma Communications plc |
| RTL Group vs. Gold Road Resources | RTL Group vs. KAUFMAN ET BROAD | RTL Group vs. Ross Stores | RTL Group vs. JIAHUA STORES |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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