Correlation Between HEMARAJ INDUSTRIAL and Jay Mart
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By analyzing existing cross correlation between HEMARAJ INDUSTRIAL PROPERTY and Jay Mart Public, you can compare the effects of market volatilities on HEMARAJ INDUSTRIAL and Jay Mart 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 HEMARAJ INDUSTRIAL with a short position of Jay Mart. Check out your portfolio center. Please also check ongoing floating volatility patterns of HEMARAJ INDUSTRIAL and Jay Mart.
Diversification Opportunities for HEMARAJ INDUSTRIAL and Jay Mart
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between HEMARAJ and Jay is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding HEMARAJ INDUSTRIAL PROPERTY and Jay Mart Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jay Mart Public and HEMARAJ INDUSTRIAL 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 HEMARAJ INDUSTRIAL PROPERTY are associated (or correlated) with Jay Mart. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jay Mart Public has no effect on the direction of HEMARAJ INDUSTRIAL i.e., HEMARAJ INDUSTRIAL and Jay Mart go up and down completely randomly.
Pair Corralation between HEMARAJ INDUSTRIAL and Jay Mart
Assuming the 90 days trading horizon HEMARAJ INDUSTRIAL PROPERTY is expected to generate 0.2 times more return on investment than Jay Mart. However, HEMARAJ INDUSTRIAL PROPERTY is 4.98 times less risky than Jay Mart. It trades about -0.16 of its potential returns per unit of risk. Jay Mart Public is currently generating about -0.21 per unit of risk. If you would invest 505.00 in HEMARAJ INDUSTRIAL PROPERTY on October 22, 2024 and sell it today you would lose (27.00) from holding HEMARAJ INDUSTRIAL PROPERTY or give up 5.35% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.5% |
| Values | Daily Returns |
HEMARAJ INDUSTRIAL PROPERTY vs. Jay Mart Public
Performance |
| Timeline |
| HEMARAJ INDUSTRIAL |
| Jay Mart Public |
HEMARAJ INDUSTRIAL and Jay Mart Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HEMARAJ INDUSTRIAL and Jay Mart
The main advantage of trading using opposite HEMARAJ INDUSTRIAL and Jay Mart positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HEMARAJ INDUSTRIAL position performs unexpectedly, Jay Mart 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 Jay Mart will offset losses from the drop in Jay Mart's long position.| HEMARAJ INDUSTRIAL vs. Prime Office Leasehold | HEMARAJ INDUSTRIAL vs. Golden Ventures Leasehold | HEMARAJ INDUSTRIAL vs. Impact Growth REIT |
| Jay Mart vs. CPN Commercial Growth | Jay Mart vs. HEMARAJ INDUSTRIAL PROPERTY | Jay Mart vs. Future Park Leasehold | Jay Mart vs. The Erawan Group |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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