Correlation Between Intouch Holdings and Jasmine Broadband
Can any of the company-specific risk be diversified away by investing in both Intouch Holdings and Jasmine Broadband at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Intouch Holdings and Jasmine Broadband into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intouch Holdings Public and Jasmine Broadband Internet, you can compare the effects of market volatilities on Intouch Holdings and Jasmine Broadband 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 Intouch Holdings with a short position of Jasmine Broadband. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and Jasmine Broadband.
Diversification Opportunities for Intouch Holdings and Jasmine Broadband
-0.64 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Intouch and Jasmine is -0.64. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and Jasmine Broadband Internet in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jasmine Broadband and Intouch 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 Intouch Holdings Public are associated (or correlated) with Jasmine Broadband. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jasmine Broadband has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and Jasmine Broadband go up and down completely randomly.
Pair Corralation between Intouch Holdings and Jasmine Broadband
If you would invest 565.00 in Jasmine Broadband Internet on January 26, 2025 and sell it today you would earn a total of 20.00 from holding Jasmine Broadband Internet or generate 3.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 5.26% |
| Values | Daily Returns |
Intouch Holdings Public vs. Jasmine Broadband Internet
Performance |
| Timeline |
| Intouch Holdings Public |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Jasmine Broadband |
Intouch Holdings and Jasmine Broadband Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intouch Holdings and Jasmine Broadband
The main advantage of trading using opposite Intouch Holdings and Jasmine Broadband positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, Jasmine Broadband 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 Jasmine Broadband will offset losses from the drop in Jasmine Broadband's long position.| Intouch Holdings vs. Synnex Public | Intouch Holdings vs. SVOA Public | Intouch Holdings vs. Samart Telcoms Public | Intouch Holdings vs. SVI Public |
| Jasmine Broadband vs. Digital Telecommunications Infrastructure | Jasmine Broadband vs. Land and Houses | Jasmine Broadband vs. Kiatnakin Phatra Bank | Jasmine Broadband vs. Advanced Info Service |
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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