Correlation Between DAX Index and JINS HOLDINGS
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By analyzing existing cross correlation between DAX Index and JINS HOLDINGS INC, you can compare the effects of market volatilities on DAX Index 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 DAX Index with a short position of JINS HOLDINGS. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and JINS HOLDINGS.
Diversification Opportunities for DAX Index and JINS HOLDINGS
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between DAX and JINS is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index 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 DAX Index 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 DAX Index 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 DAX Index i.e., DAX Index and JINS HOLDINGS go up and down completely randomly.
Pair Corralation between DAX Index and JINS HOLDINGS
Assuming the 90 days trading horizon DAX Index is expected to generate 5.0 times less return on investment than JINS HOLDINGS. But when comparing it to its historical volatility, DAX Index is 7.55 times less risky than JINS HOLDINGS. It trades about 0.08 of its potential returns per unit of risk. JINS HOLDINGS INC is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 1,452 in JINS HOLDINGS INC on August 29, 2024 and sell it today you would earn a total of 2,428 from holding JINS HOLDINGS INC or generate 167.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
DAX Index vs. JINS HOLDINGS INC
Performance |
| Timeline |
DAX Index and JINS HOLDINGS Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
JINS HOLDINGS INC
Pair trading matchups for JINS HOLDINGS
Pair Trading with DAX Index and JINS HOLDINGS
The main advantage of trading using opposite DAX Index and JINS HOLDINGS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index 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.| DAX Index vs. ELMOS SEMICONDUCTOR | DAX Index vs. ALTAIR RES INC | DAX Index vs. Fair Isaac Corp | DAX Index vs. Taiwan Semiconductor Manufacturing |
| JINS HOLDINGS vs. Intuitive Surgical | JINS HOLDINGS vs. Superior Plus Corp | JINS HOLDINGS vs. NMI Holdings | JINS HOLDINGS vs. Origin Agritech |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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