Correlation Between Jammin Java and Ke Holdings
Can any of the company-specific risk be diversified away by investing in both Jammin Java and Ke Holdings 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 Jammin Java and Ke Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jammin Java Corp and Ke Holdings, you can compare the effects of market volatilities on Jammin Java and Ke 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 Jammin Java with a short position of Ke Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jammin Java and Ke Holdings.
Diversification Opportunities for Jammin Java and Ke Holdings
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jammin and BEKE is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Jammin Java Corp and Ke Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ke Holdings and Jammin Java 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 Jammin Java Corp are associated (or correlated) with Ke Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ke Holdings has no effect on the direction of Jammin Java i.e., Jammin Java and Ke Holdings go up and down completely randomly.
Pair Corralation between Jammin Java and Ke Holdings
Given the investment horizon of 90 days Jammin Java Corp is expected to generate 128.89 times more return on investment than Ke Holdings. However, Jammin Java is 128.89 times more volatile than Ke Holdings. It trades about 0.31 of its potential returns per unit of risk. Ke Holdings is currently generating about -0.04 per unit of risk. If you would invest 0.00 in Jammin Java Corp on November 3, 2024 and sell it today you would earn a total of 0.01 from holding Jammin Java Corp or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Jammin Java Corp vs. Ke Holdings
Performance |
| Timeline |
| Jammin Java Corp |
| Ke Holdings |
Jammin Java and Ke Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jammin Java and Ke Holdings
The main advantage of trading using opposite Jammin Java and Ke Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jammin Java position performs unexpectedly, Ke 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 Ke Holdings will offset losses from the drop in Ke Holdings' long position.| Jammin Java vs. Metrospaces | Jammin Java vs. Ucommune International | Jammin Java vs. Fangdd Network Group | Jammin Java vs. Avalon GloboCare Corp |
| Ke Holdings vs. Marcus Millichap | Ke Holdings vs. Digitalbridge Group | Ke Holdings vs. Jones Lang LaSalle | Ke Holdings vs. CBRE Group Class |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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