Correlation Between Ford and Jangho Group
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By analyzing existing cross correlation between Ford Motor and Jangho Group Co, you can compare the effects of market volatilities on Ford 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 Ford with a short position of Jangho Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ford and Jangho Group.
Diversification Opportunities for Ford and Jangho Group
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Ford and Jangho is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Ford Motor and Jangho Group Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jangho Group and Ford 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 Ford Motor 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 Ford i.e., Ford and Jangho Group go up and down completely randomly.
Pair Corralation between Ford and Jangho Group
Taking into account the 90-day investment horizon Ford Motor is expected to under-perform the Jangho Group. In addition to that, Ford is 1.16 times more volatile than Jangho Group Co. It trades about -0.01 of its total potential returns per unit of risk. Jangho Group Co is currently generating about 0.0 per unit of volatility. If you would invest 589.00 in Jangho Group Co on September 3, 2024 and sell it today you would lose (15.00) from holding Jangho Group Co or give up 2.55% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 97.95% |
| Values | Daily Returns |
Ford Motor vs. Jangho Group Co
Performance |
| Timeline |
| Ford Motor |
| Jangho Group |
Ford and Jangho Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ford and Jangho Group
The main advantage of trading using opposite Ford and Jangho Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ford 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.| Ford vs. GreenPower Motor | Ford vs. ZEEKR Intelligent Technology | Ford vs. Volcon Inc | Ford vs. Ford Motor |
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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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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