Correlation Between HSBC Holdings and JIAHUA STORES
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By analyzing existing cross correlation between HSBC Holdings plc and JIAHUA STORES, you can compare the effects of market volatilities on HSBC Holdings and JIAHUA STORES 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 HSBC Holdings with a short position of JIAHUA STORES. Check out your portfolio center. Please also check ongoing floating volatility patterns of HSBC Holdings and JIAHUA STORES.
Diversification Opportunities for HSBC Holdings and JIAHUA STORES
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HSBC and JIAHUA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HSBC Holdings plc and JIAHUA STORES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JIAHUA STORES and HSBC Holdings 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 HSBC Holdings plc are associated (or correlated) with JIAHUA STORES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JIAHUA STORES has no effect on the direction of HSBC Holdings i.e., HSBC Holdings and JIAHUA STORES go up and down completely randomly.
Pair Corralation between HSBC Holdings and JIAHUA STORES
If you would invest 841.00 in HSBC Holdings plc on September 1, 2024 and sell it today you would earn a total of 48.00 from holding HSBC Holdings plc or generate 5.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
HSBC Holdings plc vs. JIAHUA STORES
Performance |
| Timeline |
| HSBC Holdings plc |
| JIAHUA STORES |
HSBC Holdings and JIAHUA STORES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HSBC Holdings and JIAHUA STORES
The main advantage of trading using opposite HSBC Holdings and JIAHUA STORES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HSBC Holdings position performs unexpectedly, JIAHUA STORES 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 JIAHUA STORES will offset losses from the drop in JIAHUA STORES's long position.| HSBC Holdings vs. JPMorgan Chase Co | HSBC Holdings vs. Bank of America | HSBC Holdings vs. Citigroup | HSBC Holdings vs. Mitsubishi UFJ Financial |
| JIAHUA STORES vs. SIVERS SEMICONDUCTORS AB | JIAHUA STORES vs. Darden Restaurants | JIAHUA STORES vs. Reliance Steel Aluminum | JIAHUA STORES vs. Q2M Managementberatung AG |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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