Correlation Between Jay Mart and AIM Industrial
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By analyzing existing cross correlation between Jay Mart Public and AIM Industrial Growth, you can compare the effects of market volatilities on Jay Mart and AIM Industrial 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 Jay Mart with a short position of AIM Industrial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and AIM Industrial.
Diversification Opportunities for Jay Mart and AIM Industrial
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jay and AIM is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and AIM Industrial Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AIM Industrial Growth and Jay Mart 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 Jay Mart Public are associated (or correlated) with AIM Industrial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AIM Industrial Growth has no effect on the direction of Jay Mart i.e., Jay Mart and AIM Industrial go up and down completely randomly.
Pair Corralation between Jay Mart and AIM Industrial
Assuming the 90 days trading horizon Jay Mart Public is expected to under-perform the AIM Industrial. In addition to that, Jay Mart is 6.06 times more volatile than AIM Industrial Growth. It trades about -0.22 of its total potential returns per unit of risk. AIM Industrial Growth is currently generating about 0.0 per unit of volatility. If you would invest 1,050 in AIM Industrial Growth on October 22, 2024 and sell it today you would earn a total of 0.00 from holding AIM Industrial Growth or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jay Mart Public vs. AIM Industrial Growth
Performance |
| Timeline |
| Jay Mart Public |
| AIM Industrial Growth |
Jay Mart and AIM Industrial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jay Mart and AIM Industrial
The main advantage of trading using opposite Jay Mart and AIM Industrial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, AIM Industrial 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 AIM Industrial will offset losses from the drop in AIM Industrial's long position.| Jay Mart vs. CPN Commercial Growth | Jay Mart vs. HEMARAJ INDUSTRIAL PROPERTY | Jay Mart vs. Future Park Leasehold | Jay Mart vs. The Erawan Group |
| AIM Industrial vs. Amata Summit Growth | AIM Industrial vs. WHA Premium Growth | AIM Industrial vs. Digital Telecommunications Infrastructure | AIM Industrial vs. Quality Houses Property |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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